Study Program Self-Evaluation Report ECONOMICS · International University of Sarajevo Study program self-evaluation report 2017/2018 8 Educational Objectives and Learning Outcomes

Faculty of Business and Administration

Study Program Self-Evaluation Report

ECONOMICS

Academic year: 2017/18

Copyright IUS©2017

All rights reserved.

International University of Sarajevo Study program self-evaluation report 2017/2018

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Contents

Introduction .................................................................................................................. 4

Educational Objectives and Learning Outcomes ...................................................... 8 Educational objectives ................................................................................................................................................. 8 Learning outcomes ....................................................................................................................................................... 8 Domain specific demands .......................................................................................................................................... 14 SWOT analysis ........................................................................................................................................................... 15 Action plan .................................................................................................................................................................. 16

Curriculum .................................................................................................................. 17 Correspondence between objectives and curriculum ............................................................................................. 19 Alignment of professional and academic requirements .......................................................................................... 19 Curriculum coherence ............................................................................................................................................... 49 Workload .................................................................................................................................................................... 49 Coherence between the learning process organization and curriculum content .................................................. 50 Final paper/project (where applicable) .................................................................................................................... 50 SWOT analysis ........................................................................................................................................................... 50 Action plan .................................................................................................................................................................. 51

Human Resources ....................................................................................................... 52 Quality of academic staff ........................................................................................................................................... 52 Alignment of professional and academic demands ................................................................................................. 52 Number of academic staff .......................................................................................................................................... 57 SWOT analysis ........................................................................................................................................................... 58 Action plan .................................................................................................................................................................. 58

Students ....................................................................................................................... 59 Students’ assessment .................................................................................................................................................. 59 Practical training ........................................................................................................................................................ 60 Conditions for admission of students to the study program ................................................................................... 61 Students’ involvement in the teaching/learning process improvement ................................................................. 61 Measures for Promoting mobility of students and mutual recognition of ECTS credits ..................................... 62 Student coaching ........................................................................................................................................................ 63 System of information and complaints ..................................................................................................................... 63 SWOT analysis ........................................................................................................................................................... 65 Action plan .................................................................................................................................................................. 65

Physical Resources...................................................................................................... 66 Material aspects .......................................................................................................................................................... 66 SWOT analysis ........................................................................................................................................................... 68 Action plan .................................................................................................................................................................. 69

Internal Quality Assurance ....................................................................................... 70 Evaluation results and measures for study program improvements ..................................................................... 70 Involvement of co-workers/colleagues, students, graduated students (alumni) and labor market/professional

associations in work of QA teams/committees/evaluation panels as well as in work of introducing

innovations of curriculum ................................................................................................................................. 70 SWOT analysis ........................................................................................................................................................... 71 Action plan .................................................................................................................................................................. 72

Achieved Goals............................................................................................................ 73 Level of accomplishment ........................................................................................................................................... 73 Acquired competences ............................................................................................................................................... 73 SWOT analysis ........................................................................................................................................................... 74 Action plan .................................................................................................................................................................. 75


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Conclusion and Summary.......................................................................................... 76

Annexes ........................................................................................................................ 77 Annex 1: List of Theses .............................................................................................................................................. 77 Annex 2: Graduate/Mentor ratio .............................................................................................................................. 79 Annex 3: Library data ............................................................................................................................................... 79 Annex 4: Computer labs ............................................................................................................................................ 80 Annex 5: Comparison of Institutional, National and European Systems .............................................................. 81 Annex 6: Forms for Programs and Courses ............................................................................................................ 82 Annex 7: Course syllabus template ........................................................................................................................... 87 Annex 8: Academic staff evaluation form ................................................................................................................ 90 Annex 9: Events organized by Study Economics study program .......................................................................... 90 Annex 10: Appointment of the Team for Study Program Analysis ....................................................................... 91 Annex 11: Curriculum for 1

st Cycle ......................................................................................................................... 92

Annex 12: Mevlana exchange program agreements ............................................................................................... 96 Annex 13: Example for student survey .................................................................................................................... 99 Surveyed items were: ................................................................................................................................................. 99 Annex 15: Stakeholders’ Engagement .................................................................................................................... 101


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Tables Table .1: International Standard Classification of Education (ISCED, UNESCO) ................................................................... 17

Table .2: The matrix of objectives and learning outcomes (1st Cycle) ................................................................................ 19

Table .3: Matrix of program learning outcomes and BH Qualifications Framework (1st Cycle) ......................................... 22

Table 4: The matrix of learning outcomes and unit courses (University required and elective courses) (1st Cycle) .......... 25

Table .5: The matrix of learning outcomes and unit courses (Faculty Required Courses) (1st Cycle) ................................. 28

Table .6: The matrix of learning outcomes and unit courses (Program Required Courses) (1st Cycle)............................... 29

Table .7: The matrix of learning outcomes and unit courses (Program Elective Courses) (1st Cycle) ................................. 31

Table .8: The matrix of objectives and learning outcomes (2nd Cycle) ............................................................................... 34

Table .9: Matrix of program learning outcomes and BH Qualifications Framework (2nd Cycle) ........................................ 36

Table .10: The matrix of learning outcomes and unit courses (2nd Cycle) .......................................................................... 39

Table .11: The matrix of objectives and learning outcomes (3rd Cycle) .............................................................................. 41

Table .12: Matrix of program learning outcomes and BH Qualifications Framework (3rd Cycle) ....................................... 44

Table .13: The matrix of learning outcomes and unit courses (3rd Cycle) .......................................................................... 46

Table .14: Numbers and ratios of staff and students in academic 2013/14 ........................................................................ 57

Table V.15: Resources and infrastructure ........................................................................................................................... 68

Table .16: Number of Students Enrolled ............................................................................................................................. 74

Table A-17: Graduates /mentors ratios in 2012-2013 ......................................................................................................... 79

Table A-18: Library data ....................................................................................................................................................... 79

Table A-19: Computer labs data .......................................................................................................................................... 80

Table A-20: C-01 form .......................................................................................................................................................... 87

Table A-21: Organization of events by SP ............................................................................................................................ 90

Table A-22: Curriculum of the Economics study program ................................................................................................... 92

Table A-23: List of Elective Courses in the Economics study program ................................... Error! Bookmark not defined.

Table A-24: IUS signed Mevlana exchange program agreements ....................................................................................... 96

Table A-25: IUS signed memorandums of understanding ................................................................................................... 97

Table A-26: FENS signed cooperation agreements .............................................................................................................. 98

Table A-27: Student survey results ...................................................................................................................................... 99

Figures Figure 1: The administrative and academic structure of IUS ................................................................................................. 5

Figure 2: EQF & NQF applied at IUS and ECTS study duration and design .......................................................................... 81

Figure 3: SP-01 form ............................................................................................................................................................ 82

Figure 4: SP-02 form ............................................................................................................................................................ 83

Figure 5: SP-03 form ............................................................................................................................................................ 84

Figure 6: SP-04 form ............................................................................................................................................................ 85

Figure 7: SP-05 form ............................................................................................................................................................ 86

Figure 8: Academic staff evaluation form ............................................................................................................................ 90


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Introduction

Basic information

Name of the institution of higher education International University of Sarajevo (IUS)

Faculty Faculty of Business and Administration

Study program Economics SP

Address Hrasnička Cesta 15, 71210 Ilidža Sarajevo

Contact telephone and facsimile numbers Tel.: 033 957 100, 957 101, 957 102

Fax: 033 957 105

e-mail [email protected]

Web-address http://www.ius.edu.ba

The person in charge of self-evaluation reports Assoc. Prof. Dr. Mehmed Ganic

Contact details of the person in charge Phone +387 33 957 414 email : [email protected]

Economics study program Self-evaluation Report was prepared by the team appointed1 by the Dean of the Faculty of

Business and Administration. It consisted of representatives of academic staff, administrative, students from each cycle

and it is composed of the following members:

Realization of the Self-Evaluation and the Report

1. Prof. Dr. Metin TOPRAK, chairman,

2. Prof. Dr. Recai Aydin , member

3. Senior Assist. Azra Bico, member,

4. Nada Dreca, member (representative of third cycle),

1 Decision No. IUS-FBA-07-3274/2014, dated November 12, 2014.

Cycles of

Study

ECTS credits Duration Qualification

I cycle 240 ECTS 4 years Bachelor of Arts (B.A.) in Economics

II cycle 60 ECTS 1 years Master of Arts (M.A.) in Economics

III cycle 180 ECTS 3 years Doctor of Philosophy (Ph.D.) in Economics

mailto:[email protected]

http://www.ius.edu.ba/



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5. Merjema Aletic, member (representative of second cycle),

6. Emina Hukic, member (representative of first cycle),

7. Jahija Imamovic, member (representative of administrative staff).

Historical context

The University was established pursuant to the following administrative acts:

a) Decision of the Government of Sarajevo Canton, No.: 02-05-10404-10/03 dated 18 June, 2003, whereby the

Foundation for Development of Education had been given an approval to establish International University of

Sarajevo as an institution.

b) Decision of the Ministry of Education and Science of Sarajevo Canton No. 11-01-38 of 23 June, 2004, on

the conditions for commencement of operations of International University of Sarajevo whereby it was

established that all stipulated conditions for commencement of operations had been met.

IUS has the following organizational units:

1 Faculty of Engineering and Natural Sciences (FENS);

2 Faculty of Business and Administration (FBA);

3 Faculty of Arts and Social Sciences (FASS).

IUS started its operations in rented premises but moved to newly built campus in 2010. The campus is being

expanded ever since and currently can serve up to 3000 students and professors. IUS did update its Statute2 and

regulations in order to align them with changes in relevant laws. The most recent changes included the establishment of

departments at faculties, as well as changing the names of study programs. Other changes at IUS or legal framework do

not affect study programs directly.

Study Program (SP) of Economics exists as a separate program within the Faculty of Business and

Administration from its founding. In 2012 Department of Economics and Management was established. SP of Economics

is an integral part of Department of Economics and Management from 2012.

Education in master and doctorate degree programs started in 2011. Since 2012 the numbers of graduates are as follows:

BA:18, MA: 6, PhD:1. The study program self-evaluation report (SER) covers the period from 2013 to 2014. Upon its

completion the report was delivered to the Faculty Council for final approval.

Organizational context

Economics SP is under the Department of Economics and Management at FBA and its position in IUS structure is visible

from the chart below:

Figure 1: The administrative and academic structure of IUS

2 http://www.ius.edu.ba/sites/default/files/statut_preciscena_verzijaius_03_0.pdf

http://www.ius.edu.ba/sites/default/files/statut_preciscena_verzijaius_03_0.pdf


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Each faculty has its council, departments have their heads and each study program has a program coordinator

and academic advisors. A number of regulations define the ways of operations and among the most relevant documents

are study rules.3

The Economics study program is in line with IUS strategic objectives.4 Admission criteria are defined at

institutional level. Educational objectives, key learning outcomes and hence curriculum of Economics study program are

setup continuous exchange of ideas with labor market needs in public and private sectors. Besides interview with

representatives from labor market thru panels, one of the main data sources regarding feedbacks of labor market is labor

advertisement pages of newspapers.

3 http://www.ius.edu.ba/regulations

4 http://www.ius.edu.ba/ius-strategy, http://www.ius.edu.ba/ius/our-university

http://www.ius.edu.ba/regulations

http://www.ius.edu.ba/ius-strategy

http://www.ius.edu.ba/ius/our-university


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There is a strict consistency between educational objectives, program learning outcomes, unit course learning

outcomes, assessment methods, course material, teaching staff and spatial and material conditions adequacy. The national

and European qualifications frameworks are the benchmarks for the establishing and developing the Economics study

program. All components of the Economics study program are based on three pillars of qualifications framework such as

knowledge, skills and competences.

The design of curriculum, course materials, teaching and assessment methods and employment policy toward

teaching and research team is dedicated to ensure the requirements of the BH Framework. The workload of teachers and

students are quite reasonable and remain within limits of internationally accepts standards. The consistency between

student workload, contact hours, ECTS credits is assured by regular student surveys and teacher feedbacks.


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Educational Objectives and Learning Outcomes

Educational objectives

Learning outcomes a) 1st Cycle

The aim of the Economics study program is to have graduates who have minimum requirements determined

by European and BH qualifications frameworks. The graduate of the Economics study program at the first

cycle will have detailed theoretical and practical knowledge, skills and competences associated with the field

of economics. The graduates also have the application of knowledge in devising and sustaining arguments, in

solving problems and in making judgments that take into account social or ethical issues. The graduate at this

level has outcomes appropriate for a professional approach to working in a complex environment.

The likely main employment environments are envisaged as public and private enterprises,

government agencies, nongovernmental organizations both domestic and international. The curriculum of the

Economics study program may be classified under three main strands: Field specific courses (program based),

methodological courses (universal and field specific) and interdisciplinary courses (narrow and broad fields of

UNESCO5). The curriculum designed based on these courses seeks to meet the minimum criteria of the first

cycle qualifications.

The Economics study program at International University of Sarajevo will prepare students to

participate effectively as active citizens in the affairs of society by enhancing their ability to assess economic

activity and to contribute productively in their careers using knowledge learned and skills acquired during

their study of economics. Through effective teaching, the program also will provide its students with

knowledge of current economic thought and will develop students' understanding of the role played by

economic institutions in society.

The objectives of the Economics study program are to graduate people who;

(i) Comprehend the theoretical framework of economics;

(ii) Conceptualize economic problems and conduct application-analysis-evaluation-reporting;

(iii) Have implementation skills to apply mathematical knowledge in the professional field;

(iv) Use software packages of accounting, finance and statistics / econometrics and information

technologies effectively;

(v) Have effective self-expression in writing and verbally in English;

(vi) Have skills in communication and social matters;

(vii) Have developed behavior in working-independently and taking-responsibility;

(viii) Have global and interrogative understanding;

(ix) Are sensitive to societal problems and have attitude of active citizenship;

(x) Have intellectual vision;

(xi) Have internalized philosophy of lifelong learning.

5 Detailed information regarding this is given in the Curriculum section.


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Learning outcomes of the Economics study program are to graduate people who;

(i) Comprehend, analyze and synthesize principles and theories in economics with an interrogative point

of view.

(ii) Keep track of scientific studies published in English related to economics, explain them and re-apply

them with different data; prepare works such as proceedings, articles, project reports.

(iii) Demonstrate mastery in accounting applications and regulations at working life on behalf of himself /

herself or of others at public or private sector.

(iv) Demonstrate advanced skills having mastery and innovation in order to solve complex and

unpredictable problems in economics.

(v) Take responsibility to make decision in unpredictable work or study contexts related to economics.

(vi) Take responsibility in the management of professional development of individuals or groups in the

field of economics.

(vii) Keep track of and report global, regional and local economic developments in a holistic standpoint;

explains them analytically and systematically; comprehend and evaluate political and social

developments in the world.

(viii) Express economic issues and problems in the means of mathematics, accounting and statistics; and

analyze and evaluate them with software packages.

(ix) Complete a project life cycle of an economic problem individually and interpret findings and develop

solution.

(x) Take various tasks as team members or leaders of the team, show awareness of the requirements of

working in a team, and are committed to lifelong learning.

(xi) Are open-minded enough to try to understand others' thoughts and actions with interrogative point of

view; socialized enough to communicate easily with others; respectful towards societal values and

competent enough to do the presentation in front of the community. Present and comment findings

and thoughts in an ethical manner.

(xii) Explain frontiers of the broad field of social sciences-business-law including economics, specifies the

relationships of each narrow field with the broad field, explain the basic concepts of the broad field.

(xiii) Comprehend the frontiers of detailed fields in the narrow field of social and behavioral sciences

including economics, explain the knowledge of basic facts, principles, processes and general

concepts of detailed fields which consist of the narrow field, conduct analysis and evaluation at basic

level by using basic methods, tools and inputs.

(xiv) Have cognitive and practical skills in order to develop solutions and solve problems by using basic

methods, tools and inputs in the detailed field including economics.

(xv) Supervise and control routine works related to the narrow field including economics, take limited

responsibility for the evaluation and improvement of working and studying activities.

(xvi) Manage complex technical or professional activities or projects in related to the narrow field including

economics.

The curriculum of the Economics study program covers all standard courses as in other prominent

universities of the developed countries. Aimed professional competences are derived from labor market needs.

The Economics study program aims to graduate students for both national and international markets.

Therefore, flexibility in the curriculum enables students to track different strands which may be in line with

the needs of local community also. The length of the Economics study program extends flexibility for further

education studies not only in domestic HEIs but also in other countries which have different but still

acceptable (in terms of Bologna Process) cycle structures.

Economics program at IUS offers interdisciplinary approach by offering specific courses from other

programs at the faculty and in the University. Our students start their education by building a background with


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calculus, statistics, sociology and history. Then, they continue with fundamental economics and management

courses such as Intermediate microeconomics, Intermediate macroeconomics, business statistics, Managerial

Mathematics, Introduction to Management Science, International political economy, Business finance and

Financial accounting.

University Courses cover various topics from calculus to humanities aiming to prepare graduates in a

changing and unpredictable future. Providing necessary skills to meet the challenges of the 21st century is one

of the main concerns of IUS and the Economics study program. There are various elective courses which give

students opportunity to design their own program according to their interests and preferences. In this way

students have the possibility to choose their future directions, e.g. some courses will prepare students for their

future carriers in different sectors of economy, (various industries, banking sector, government agencies),

while other courses will give students a good foundation for the master`s and PhD studies. Finally, the

program prepares students for the life-long learning and independent work.

b) 2nd

Cycle

The aim of the master degree studies in Economics is to prepare students for various labor market tracks. The

European and BH qualifications framework are references for the master degree requirements. The graduates

of the master degree studies in Economics will have broad theoretical and practical knowledge, including

knowledge relevant to the field of learning or occupation in economics. They also recognize the capacity to

apply knowledge and skills in developing strategic solutions to well-defined abstract and concrete problems.

Learning skills provide a basis for autonomous learning and the qualifications draw on experience of

operational interaction in work or study including management of people and projects.


government agencies, nongovernmental organizations both domestic and international. The curriculum of the

master degree studies in Economics may be classified under three main strands: Field specific courses

(program based), methodological courses (universal and field specific) and interdisciplinary courses (detailed,

narrow and broad fields of UNESCO). The curriculum designed based on these courses seeks to meet the

minimum criteria of the second cycle qualifications.

The master degree studies in Economics at International University of Sarajevo will prepare students

to participate and lead effectively as active citizens in the affairs of Bosnian society by enhancing their ability

to assess economic activity and to contribute productively in their careers using knowledge learned and skills

acquired during their study of economics. Through effective teaching, the Program will also provide its

students with advanced knowledge of current economic thought and will develop students' understanding of

the role played by national and international economic institutions in the Bosnian society.

The objectives of the master degree studies in Economics are to graduate people who;

(i) Comprehend the advanced theoretical framework of economics;

(ii) Conceptualize complex economic problems and conduct application-analysis-evaluation-reporting;

(iii) Have high implementation skills to apply mathematical knowledge in the professional field;


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(iv) Use advanced techniques of software packages of accounting, finance and statistics / econometrics and

information technologies effectively;

(v) Have effective self-expression in writing scientific papers and verbally in English;

(vi) Have high skills in communication and social matters;

(vii) Have developed and leadership behavior in working-independently and taking-responsibility;

(viii) Have ability to contribute global and interrogative understanding;

(ix) Have ability to develop solutions to societal problems and have leading attitude of active citizenship;

(x) Have high intellectual vision;

(xi) Have internalized and leading philosophy of lifelong learning.

Learning Outcomes of the master degree studies in Economics are to graduate people who;

(i) Analyze, synthesize and evaluate theoretical framework of economics with an interrogative point of view.

(ii) Keep track of intermediate-level scientific studies published in English in the field of economics, explain,

evaluate and re-apply them with different data; prepare works such as proceedings, articles, project

reports consistent with this level.

(iii) Demonstrate advanced skills having mastery in order to solve complex and unpredictable problems in

economics consistent with these skills.

(iv) Take responsibility to make decision in unpredictable and complex work or study contexts related to

economics.

(v) Keep track of and report global, regional and local economic developments in a holistic standpoint;

evaluate them analytically and systematically; comprehend political and social developments in the

world.

(vi) Express complex economic issues and problems in the means of mathematics, accounting, statistics and

econometrics; and analyze and evaluate them with software packages.

(vii) Have theoretical and factual knowledge on basic facts, principles, processes and general concepts (at the

interface) for their interrelations and relative situations in the detailed field of works or studies

(economics).

(viii) Have specialized problem-solving skills in a field of work or study (economics), required in research

and/or innovation in order to develop new knowledge and procedures and to integrate knowledge from

different fields.

(ix) Manage and transform work and study environments that are complex, unpredictable and require new

strategic approaches in a work or study field (economics).

(x) Complete a project life cycle of a complex economic problem individually and interpret findings and

develop solution.

(xi) Take various complex tasks as team member or leader of the team, have skills and competences of the

requirements of working in a team, and design and meet the needs in economics in terms of lifelong

learning.

(xii) Take responsibility and/or to review the strategic performance of teams in order to contribute to

professional knowledge and practices in a work or study field (economics).

(xiii) Take over full responsibility in the management of professional development of individuals or groups

in the field of economics.

(xiv) Are open-minded enough to work with others as team member or leader and actions with interrogative

point of view; socialized enough to communicate effectively with others; having positive attitudes

towards the diversity in the society and competent enough to do the presentation effectively in front of the

community. Present and comment findings and thoughts in an ethical manner.


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The curriculum of the master degree studies in Economics covers all expected courses as in other

prominent universities of the developed countries. Aimed professional competences are derived from labor

market needs. Master degree studies in Economics aim to graduate students for both national and international

markets. Therefore, flexibility in the curriculum enables students to track different strands which may be in

line with the needs of local community also. The length of the master degree studies in Economics is

determined by the national law. Therefore, depending length of bachelor degree, master degree studies in

Economics lasts one year.

Master in Economics at IUS offers mainly narrow field courses and interdisciplinary approach in

terms of variety of courses for this level of education. Motivation of master degree studies in Economics is

determined mainly by labor market needs and Program covers more economics and business related topics.

There are three required courses in master degree studies in Economics. Besides this, master thesis is

also required. There are various elective courses which give students opportunity to design their own program

according to their interests and preferences and to specialize in several tracks in their theses. In this way

students have the possibility to choose their future directions, e.g. some courses will prepare students for their

future carriers in different sectors of economy, (various industries, banking sector, government agencies),

while other courses will give students a good foundation for PhD studies. Finally, the program develops

students’ ability toward life-long learning and independent work. One distinguished feature of second cycle

curriculum is its focusing on methodological and instrumental courses and labor market oriented subjects.

c) 3rd

Cycle

The aim of the doctorate program in Economics is to prepare candidates for various labor market tracks. The

European and BH qualifications framework are references for the PhD degree requirements. The graduates of

the PhD in Economics will have broad and profound theoretical and practical knowledge, including

knowledge relevant to the field of learning or occupation in economics. They also recognize the capacity to

apply advanced knowledge and skills in developing strategic solutions to abstract and complex concrete

problems. Advanced learning skills provide a basis for autonomous learning and the qualifications draw on

experience of operational interaction in work or study including management of people, teams and projects.


government agencies, nongovernmental organizations both domestic and international including academic and

research institutions. The curriculum of the PhD in Economics may be classified under three main strands:

Field specific courses (program based), methodological courses (universal and field specific) and

interdisciplinary courses (detailed, narrow and broad fields of UNESCO). The curriculum designed based on

these courses seeks to meet the minimum criteria of the second cycle qualifications.

The PhD in Economics at International University of Sarajevo will prepare candidates to participate

and lead creatively as active citizens in the affairs of Bosnian society by enhancing their ability to assess


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economic activity and to contribute productively in their careers using knowledge learned and skills acquired

during their study of economics. Through effective and creative teaching, the Program will also provide its

candidates with most advanced knowledge of current economic thought and will develop candidates'

evaluation of the role played by national and international economic institutions in the Bosnian society.

The main objectives of the PhD in Economics are to graduate people who;

(i) Evaluate the advanced theoretical framework of economics;

(ii) Conceptualize complex and unpredictable economic problems and conduct analysis-evaluation-creation-

reporting;

(iii) Have highest implementation skills to apply advanced mathematical knowledge in the professional field;

(iv) Use advanced techniques of software packages of accounting, finance and statistics / econometrics and

information technologies effectively, and evaluate and develop these techniques when necessary;

(v) Have most effective self-expression in writing scientific papers and verbally in English;

(vi) Have high and complex skills in communication and social matters;

(vii) Have most developed and creative leadership behavior in working-independently and taking-

responsibility;

(viii) Have ability to develop and create global and interrogative understanding;

(ix) Have ability to create solutions to complex and unpredictable societal problems and have leading and

creative attitude of active citizenship;

(x) Have the highest intellectual vision;

(xi) Have internalized, leading and creative philosophy of lifelong learning.

Learning outcomes of the PhD in Economics are to graduate people who;

(i) Synthesize, evaluate and contribute to theoretical framework of economics with an interrogative point of

view.

(ii) Keep track of advanced-level scientific studies published in English related to economics, evaluate and

re-apply them with different data and methodology; prepare works such as proceedings, articles, project

reports consistent with this level.

(iii) Demonstrate creative skills having mastery and innovation in order to solve complex and unpredictable

problems in economics consistent with these skills.

(iv) Take over full responsibility to make decision in highly complex and unpredictable advanced work or

study contexts related to economics.

(v) Express highly complex economic issues and problems in the means of mathematics, accounting,

statistics and econometrics; and evaluate them with software packages by developing new methodologies.

(vi) Knowledge at the most advanced level in a subject specific work or study field (program) to extent or

develop the borders of knowledge produced, in this framework to make it possible for advanced analysis

and evaluation of interdisciplinary facts, principles, processes and concepts in other relevant detailed

fields.

(vii) Have the most advanced and specialized skills and techniques, including synthesis and evaluation,

required to solve critical problems in research and/or innovation and to define and extend existing

knowledge or practices in a subject specific work or study field (economics).

(viii) Demonstrate substantial authority, innovation, autonomy, scholarly and professional integrity and

sustained commitment to the development of new ideas or processes at the forefront of work or study

contexts including research in a work or study field (economics).

(ix) Keep track of and report complex global, regional and local economic developments in a critical and

holistic standpoint; evaluate political and social developments in the world.

(x) Complete a project life cycle of a complex and advanced economic problem individually and interpret

findings and develop solution.

(xi) Take various highly complex and unpredictable tasks as team leader, have most advanced skills and

competences of the requirements of working in a team, and design and meet the complex needs in

economics in terms of lifelong learning.


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(xii) Take over full responsibility in the management of advanced professional development of individuals or

groups in the field of economics.

(xiii) Are open-minded enough to work with others as team leader and actions with interrogative point of

view; socialized enough to communicate effectively and internalize easily feedbacks of others; appreciate

and encourage the diversity in the society and competent and tolerant enough to do the presentation

effectively in front of the community. Present and comment findings and thoughts in an ethical manner.

The curriculum of the PhD in Economics covers all expected courses as in other prominent

universities of the developed countries. Aimed professional and academic competences are derived from labor

market needs. The PhD in Economics aims to graduate students for both national and international markets.

Therefore, flexibility in the curriculum enables students to track different strands which may be in line with

the needs of local community also. The length of the PhD in Economics is determined by the national law.

Therefore, PhD in Economics takes at least three years.

PhD in Economics at IUS offers mainly narrow field and subject specific courses at this level of

education. Motivation of PhD in Economics is determined mainly by labor market needs mainly needs of

academic and research community. Accordingly, PhD in Economics covers intensively economics and

methodology related topics.

There are three required courses in PhD in Economics. Besides this, PhD thesis is also required. There

are various elective courses which give candidates opportunity to design their own program according to their

interests and preferences and to specialize in several tracks in their theses. In this way candidates have the

possibility to choose their future directions, e.g. some courses will prepare candidates for their future carriers

in different sectors of economy, (various industries, banking sector, government agencies), while other courses

will give students a good foundation for highly qualified academic and research activity. Finally, the program

develops candidates’ ability to develop and create approaches toward life-long learning and independent work.

The most distinguished feature of PhD curriculum is its focusing on complex methodological and instrumental

courses and national and international labor market oriented advanced subjects.

Domain specific demands

For all three cycles educational objectives and learning outcomes are aligned with the BH Qualifications

Framework. Relationship matrix is developed based on the level descriptors (knowledge, skills and

competences) used in this framework and program-specific learning outcomes of the Economics study

program.

The requirements of Bologna Process are truly met on the basis of ECTS Users’ Guide. The

Economics study program is aligned with other relevant Bologna process documents, policies and guidelines.

All the existing legal and professional requirements have been fully met, including IUS regulations6 and the

6 http://www.ius.edu.ba/regulations, http://www.ius.edu.ba/important-documents


http://www.ius.edu.ba/important-documents


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Law on Higher Education7.

It is also relevant to mention that the international dimension was taken into account, evident from the

reference points used and experts who prepared and/or were consulted during the study program creation. For

PhD program Salzburg I and II criteria are also taken into consideration widely.

SWOT analysis

Strengths:

The curriculum as a whole is in line with similar study programs abroad. Recognition, transparency

and comparability dimensions of the Economics study program at IUS are quite satisfactory.

Education language and all materials regarding unit courses are in English. Therefore, the issue of

updated course material is solved easily and quickly.

Highly qualified teaching staff is one other strength of the Economics study program. Due to

education language, prominent experts from other countries are also enriching potential for new academic staff

for hiring at the Economics study program.

Following Bosnia and Herzegovina’s ratification of the Lisbon Recognition Convention, International

University of Sarajevo aligned its internal regulations and procedures with the principles of the Convention,

and thus ensured preconditions that our unit courses and qualifications are recognized automatically across the

world.

Our students are encouraged to attend seminars, conferences and lectures held outside their obligatory

workload. These events are mainly focused on personal carrier plans of students, social and ethical issues of

the societies and finally program specific studies at IUS.

Weaknesses:

IUS has been developing a central alumni database. However, it is still on its earlier phase. Although it

is not systemically designed we take feedbacks of our alumni for our decision making processes regarding

curriculum development and other academic and administrative issues.

Our students are encouraged to attend various events mainly focused on personal carrier plans of

students, social and ethical issues of the societies and finally program specific studies at IUS. However, we

have not assigned ECTS credits to seminars, conferences and lectures held outside their obligatory workload,

and assessment and grading methodology have not been developed yet.

7 Framework Law on Higher Education in Bosnia and Herzegovina (Official Gazette of BIH, No. 59/07),

http://cip.gov.ba/images/pdf/Legislativa/Engleski/Okvirni.eng.pdf or

http://www.erisee.org/downloads/library_bih/Framework%20Law%20on%20HE%20in%20BiH.pdf

http://cip.gov.ba/images/pdf/Legislativa/Engleski/Okvirni.eng.pdf

http://www.erisee.org/downloads/library_bih/Framework%20Law%20on%20HE%20in%20BiH.pdf


16

Opportunities:

In the medium and long terms, the Economics study program has a comparative advantage regarding

its location, education language and international engagement. International students from various continents

and countries would increase the institutional and program level reputation. More effective alumni association

would also create an extra attraction for IUS and the Economics study program. Finally, Bosnian potential

entry into the EU will also contribute its value.

Threats:

Unpredictable, multi-layered, complex structure and decision making process of Bosnia and

Herzegovina may discourage investors, educators and students.

Security concerns and relatively higher unemployment rates would create negative incentives for

medium and long term investors and decision makers who take Bosnia as a potential activity location.

Action plan

Regarding alumni central database, we plan to finalize the establishment a wholly functioning alumni system

in a period of two years.

Students’ active participation to cultural, social and art events held at IUS would be encouraged via

giving credits to the participants of these activities. We plan to develop ECTS credits, assessment and grading

methodology for that kind of activities.

Economic analysis of Bosnian current administrative and political structure is one of the research

priorities of the Economics study program and IUS as well. We plan to conclude in a period of two years a

comprehensive research and conclude some suggestions for the solution.


17

Curriculum

While developing curriculum for the Economics study program (for all three cycles), the scientific

classification of UNESCO (ISCED) is followed. In this way, defining scope and content of the Economics

study program and its interrelationship with other related fields have been more reasonable and consistent. In

the ISCED classification, scientific fields are categorized vertically and horizontally in a consistent and

interrelated manner. This horizontal and vertical links are inherent in the methodology of European

Qualifications Framework (EQF) and BH Qualifications Framework. To provide a more flexible curriculum

by taking unpredictable future changes is much easier with this methodology.

Book of Rules on Proposing, Adopting and Monitoring Study Programs at IUS clearly defines the

procedure of curriculum development, revision and innovation. Different procedures are foreseen for

development, and revision and innovation of study programs at institutional level.8 The procedures have

different internal steps that also assure institutional quality assurance approach. The main motives behind

development and amendment of an existing study program come from mainly from need analysis of the labor

market and other stakeholders such as students, alumni and teaching staff. Analyses are defined as regular

monitoring tool and part of the internal quality assurance (QA) system. They start from the course level and

continue to study program (SP) level, involving all the relevant stakeholders, namely students, academic staff,

industry representatives, community, management, but also consulting the latest developments in the area and

available resources/opportunities. Such a system allows constant fine-tuning and new interconnections

between the objectives and the content.

Table .1: International Standard Classification of Education (ISCED, UNESCO)

Fields of Education and Training 2013 (ISCED-F 2013)

Broad Field

Code Broad Field

Narrow

Field

Code

Narrow Field Detailed

Field Code Detailed Field

03

Social sciences,

journalism and

information 031

Social and behavioral

science 0311 0311 Economics

0312 0312 Political sciences and civics

0313 0313 Psychology

0314 0314 Sociology and cultural studies

032

Journalism and

Information 0321 0321 Journalism and reporting

0322

0322 Library, information and archival

studies

04 Business,

administration and law 041

041 Business and

administration 0411 0411 Accounting and taxation

0412 0412 Finance, banking and insurance

0413 0413 Management and administration

8 http://www.ius.edu.ba/tr/regulations


18

0414 0414 Marketing and advertising

0415 0415 Secretarial and office work

0416 0416 Wholesale and retail sales

0417 0417 Work skills

042 042 Law 0421 0421 Law


19

Correspondence between objectives and curriculum

Alignment of professional and academic requirements First cycle

a) Correspondence between the Objectives and the Learning Outcomes of the Economics study program

All objectives of the Economics study program are met by the LOs. All objective are supported strongly by at least two LOs. Especially objectives

related to the professional dimension of economics supported strongly more than 10 LOs. The correspondence between the objectives and the learning

outcomes of the Economics study program is quite satisfactory.

Table .2: The matrix of objectives and learning outcomes (1st Cycle)

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y p

rog

ram

(i)

Co

mp

rehen

d t

he

theo

reti

cal

fram

ewo

rk o

f

econo

mic

s;

(ii)

Con

ceptu

aliz

e ec

ono

mic

pro

ble

ms

and

cond

uct

app

lica

tion

-an

aly

sis-

eval

uat

ion

-rep

ort

ing

;

(iii

), H

ave

hig

h i

mple

men

tati

on

sk

ills

to

ap

ply

mat

hem

atic

al k

no

wle

dge

in t

he

pro

fess

ion

al f

ield

;

(iv

) U

se s

oft

war

e pac

kag

es o

f ac

coun

ting

, fi

nan

ce

and

sta

tist

ics

/ ec

on

om

etri

cs a

nd i

nfo

rmat

ion

tech

nolo

gie

s ef

fect

ivel

y;

(v)

Hav

e ef

fect

ive

self

-exp

ress

ion

in w

riti

ng a

nd

ver

bal

ly i

n a

fo

reig

n l

angu

age;

(vi)

Hav

e hig

h s

kil

ls i

n c

om

mu

nic

atio

n a

nd

so

cial

mat

ters

;

(vii

) H

ave

dev

eloped

beh

avio

r in

wo

rkin

g-

ind

epen

den

tly a

nd t

akin

g-r

esp

on

sibil

ity;

(vii

i) H

ave

glo

bal

and

in

terr

ogat

ive

un

der

stan

din

g;

(ix

) A

re s

ensi

tiv

e to

so

ciet

al p

roble

ms

and

hav

e

atti

tud

e o

f ac

tiv

e ci

tize

nsh

ip;

(x)

Hav

e in

tell

ectu

al v

isio

n;

(xi)

Hav

e in

tern

aliz

ed t

he

ph

ilo

sop

hy

of

life

lon

g

lear

nin

g.

Program Learning Outcomes

1. Comprehend, analyze and synthesize principles and theories in economics

with an interrogative point of view.

3 3 3 3 2 1 2 1 1 1 1

2. Keep track of scientific studies published in English related to economics,

explain them and re-apply them with different data; prepare works such as proceedings, articles, project reports.

3 3 3 3 3 1 2 1 1 1 1

3. Demonstrate mastery in accounting applications and regulations at working

life on behalf of himself / herself or of others at public or private sector.

2 2 2 3 2 2 2 2 1 2 2


20

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y p

rog

ram

(i)

Co

mp

rehen

d t

he

theo

reti

cal

fram

ewo

rk o

f

econo

mic

s;

(ii)

Con

ceptu

aliz

e ec

ono

mic

pro

ble

ms

and

cond

uct

app

lica

tion

-an

aly

sis-

eval

uat

ion

-rep

ort

ing

;

(iii

), H

ave

hig

h i

mple

men

tati

on

sk

ills

to

ap

ply

mat

hem

atic

al k

no

wle

dge

in t

he

pro

fess

ion

al f

ield

;

(iv

) U

se s

oft

war

e pac

kag

es o

f ac

coun

ting

, fi

nan

ce

and

sta

tist

ics

/ ec

on

om

etri

cs a

nd i

nfo

rmat

ion

tech

nolo

gie

s ef

fect

ivel

y;

(v)

Hav

e ef

fect

ive

self

-exp

ress

ion

in w

riti

ng a

nd

ver

bal

ly i

n a

fo

reig

n l

angu

age;

(vi)

Hav

e hig

h s

kil

ls i

n c

om

mu

nic

atio

n a

nd

so

cial

mat

ters

;

(vii

) H

ave

dev

eloped

beh

avio

r in

wo

rkin

g-

ind

epen

den

tly a

nd t

akin

g-r

esp

on

sibil

ity;

(vii

i) H

ave

glo

bal

and

in

terr

ogat

ive

un

der

stan

din

g;

(ix

) A

re s

ensi

tiv

e to

so

ciet

al p

roble

ms

and

hav

e

atti

tud

e o

f ac

tiv

e ci

tize

nsh

ip;

(x)

Hav

e in

tell

ectu

al v

isio

n;

(xi)

Hav

e in

tern

aliz

ed t

he

ph

ilo

sop

hy

of

life

lon

g

lear

nin

g.

4. Demonstrate advanced skills having mastery and innovation in order to solve

complex and unpredictable problems in economics.

3 3 3 3 2 2 2 2 1 2 3

5. Take responsibility to make decision in unpredictable work or study contexts

related to economics.

3 3 3 3 2 2 2 2 1 2 3

6. Take responsibility in the management of professional development of

individuals or groups in the field of economics.

1 1 1 1 2 2 3 2 2 2 3

7. Keep track of and report global, regional and local economic developments in a holistic standpoint; explains them analytically and systematically;

comprehend and evaluate political and social developments in the world.

2 2 2 2 3 3 3 3 3 3 3

8. Express economic issues and problems in the means of mathematics, accounting and statistics; and analyze and evaluate them with software

packages.

3 3 3 3 1 1 1 1 1 2 3

9. Complete a project life cycle of an economic problem individually and interpret findings and develop solution.

2 2 3 3 1 3 3 2 2 2 3

10. Take various tasks as team members or leaders of the team, show awareness

of the requirements of working in a team, and are committed to lifelong learning.

1 1 1 1 1 3 3 3 3 3 3

11. Are open-minded enough to try to understand others' thoughts and actions with interrogative point of view; socialized enough to communicate easily

with others; respectful towards societal values and competent enough to do

the presentation in front of the community. Present and comment findings and thoughts in an ethical manner.

1 1 1 1 1 3 3 3 3 3 3

12. Explain frontiers of the broad field of social sciences-business-law including

economics, specifies the relationships of each narrow field with the broad

field, explain the basic concepts of the broad field.

2 2 2 - - 1 - - - 1 1


21

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y p

rog

ram

(i)

Co

mp

rehen

d t

he

theo

reti

cal

fram

ewo

rk o

f

econo

mic

s;

(ii)

Con

ceptu

aliz

e ec

ono

mic

pro

ble

ms

and

cond

uct

app

lica

tion

-an

aly

sis-

eval

uat

ion

-rep

ort

ing

;

(iii

), H

ave

hig

h i

mple

men

tati

on

sk

ills

to

ap

ply

mat

hem

atic

al k

no

wle

dge

in t

he

pro

fess

ion

al f

ield

;

(iv

) U

se s

oft

war

e pac

kag

es o

f ac

coun

ting

, fi

nan

ce

and

sta

tist

ics

/ ec

on

om

etri

cs a

nd i

nfo

rmat

ion

tech

nolo

gie

s ef

fect

ivel

y;

(v)

Hav

e ef

fect

ive

self

-exp

ress

ion

in w

riti

ng a

nd

ver

bal

ly i

n a

fo

reig

n l

angu

age;

(vi)

Hav

e hig

h s

kil

ls i

n c

om

mu

nic

atio

n a

nd

so

cial

mat

ters

;

(vii

) H

ave

dev

eloped

beh

avio

r in

wo

rkin

g-

ind

epen

den

tly a

nd t

akin

g-r

esp

on

sibil

ity;

(vii

i) H

ave

glo

bal

and

in

terr

ogat

ive

un

der

stan

din

g;

(ix

) A

re s

ensi

tiv

e to

so

ciet

al p

roble

ms

and

hav

e

atti

tud

e o

f ac

tiv

e ci

tize

nsh

ip;

(x)

Hav

e in

tell

ectu

al v

isio

n;

(xi)

Hav

e in

tern

aliz

ed t

he

ph

ilo

sop

hy

of

life

lon

g

lear

nin

g.

13. Comprehend the frontiers of detailed fields in the narrow field of social and

behavioral sciences including economics, explain the knowledge of basic

facts, principles, processes and general concepts of detailed fields which consist of the narrow field, conduct analysis and evaluation at basic level by

using basic methods, tools and inputs.

3 3 3 3 2 1 2 1 1 1 1

14. Have cognitive and practical skills in order to develop solutions and solve

problems by using basic methods, tools and inputs in the detailed field including economics.

3 3 3 3 3 1 2 1 1 1 1

15. Supervise and control routine works related to the narrow field including

economics, take limited responsibility for the evaluation and improvement of

working and studying activities.

2 2 2 3 2 2 2 2 1 2 2

16. Manage complex technical or professional activities or projects in related to

the narrow field including economics.

3 3 3 3 2 2 2 2 1 2 3

-:No contribution 0 0 0 1 2 0 2 2 2 1 1

1:Low level contribution 3 3 3 4 4 4 1 6 9 6 6

2:Moderate contribution 5 5 4 1 8 8 6 5 2 6 1

3:High level contribution 8 8 9 10 2 4 7 3 3 3 8

Total 16 16 16 16 16 16 16 16 16 16 16


22

b) Correspondence between Learning Outcomes of the Economics study program and BH Qualifications Framework

BH Qualifications Framework is truly in line with the European Qualifications Framework. Therefore, referencing the Economics study program

Learning Outcome to BH QF or EQF carries equal value. Methodologies pursued in the ISCED classification and BH QF framework have been taken

into consideration and relevance of the Economics study program LOs and with BH QF is satisfactorily met. All the LOs are strictly and sufficiently

related to the BH QF.

Table .3: Matrix of program learning outcomes and BH Qualifications Framework (1st Cycle)

6.LEVEL (First Cycle)

Programme Learning Outcomes X BH-QF

Knowledge -Theoretical

-Factual

Skills

-Cognitive

-Physical -Practical

Competences -Autonomy

-Responsibility

-:No contribution (~ very low),

1:Low level contribution, 2:Moderate contribution,

3:High level contribution.

Lev

el

Desc

rip

tors

This person demonstrates

knowledge and understanding in a field of

study that builds upon their

secondary education and which is typically at a level,

whilst supported by

appropriate learning resources (texts, information

and communication

technologies), which includes some aspects that

will be informed by

knowledge of the forefront in a given field of study.

This person; (i) is able to apply acquired knowledge and

critical understanding of the principles relating to the given field of study/discipline in a manner to demonstrate

professional approach to their work or vocation, and has

competences typically demonstrated through devising and sustaining arguments and solving problems within a given

field of study; (ii) is able to apply main methods of

acquiring new knowledge and applicative research in a given discipline, and is able to decide on which approach

to use in solving a given problem and is aware of the extent

to which the selected approach is suitable for solving such a problem; (iii) is able to communicate in one or several

foreign languages and by using communication

technologies, information, ideas, problems and solutions to both specialist and non-specialist audiences for given area

of study.

Professional competence: This person (i)

demonstrates ability to gather and interpret relevant data (usually within the given field of study) to

inform judgments that include reflection on relevant

social, scientific or ethical issues. Personal competence: This person (i) has developed

learning skills to undertake further study, with a high

degree of autonomy and academic skills and attributes necessary to undertake research work, comprehend

and evaluate new information, concepts and evidence

from a range of sources; (ii) possesses a foundation for future self-directed and lifelong learning; (iii) has

acquired interpersonal skills, teamwork skills

adequate for employment and further study.

Programme Learning Outcomes Relationship Level

1. Comprehend, analyze and synthesize principles and theories in economics with an interrogative point of

view.

3 3 3

2. Keep track of scientific studies published in English

related to economics, explain them and re-apply them with different data; prepare works such as proceedings,

articles, project reports.

3 3 3

3. Demonstrate mastery in accounting applications and

regulations at working life on behalf of himself / herself or of others at public or private sector.

3 3 3


23



Knowledge -Theoretical -Factual

Skills

-Cognitive -Physical

-Practical

Competences -Autonomy -Responsibility

-:No contribution (~ very low), 1:Low level contribution,

2:Moderate contribution,


Lev

el

Desc

rip

tors

This person demonstrates knowledge and

understanding in a field of

study that builds upon their secondary education and

which is typically at a level,

whilst supported by appropriate learning

resources (texts, information

and communication technologies), which

includes some aspects that

will be informed by knowledge of the forefront

in a given field of study.

This person; (i) is able to apply acquired knowledge and critical understanding of the principles relating to the given

field of study/discipline in a manner to demonstrate

professional approach to their work or vocation, and has competences typically demonstrated through devising and

sustaining arguments and solving problems within a given

field of study; (ii) is able to apply main methods of acquiring new knowledge and applicative research in a

given discipline, and is able to decide on which approach

to use in solving a given problem and is aware of the extent to which the selected approach is suitable for solving such

a problem; (iii) is able to communicate in one or several

foreign languages and by using communication technologies, information, ideas, problems and solutions to

both specialist and non-specialist audiences for given area

of study.

Professional competence: This person (i) demonstrates ability to gather and interpret relevant

data (usually within the given field of study) to

inform judgments that include reflection on relevant social, scientific or ethical issues.

Personal competence: This person (i) has developed

learning skills to undertake further study, with a high degree of autonomy and academic skills and attributes

necessary to undertake research work, comprehend

and evaluate new information, concepts and evidence from a range of sources; (ii) possesses a foundation

for future self-directed and lifelong learning; (iii) has

acquired interpersonal skills, teamwork skills adequate for employment and further study.

4. Demonstrate advanced skills having mastery and

innovation in order to solve complex and unpredictable

problems in economics.

2 3 3

5. Take responsibility to make decision in

unpredictable work or study contexts related to

economics.

1 2 3

6. Take responsibility in the management of

professional development of individuals or groups in

the field of economics.

1 2 3

7. Keep track of and report global, regional and local economic developments in a holistic standpoint;

explains them analytically and systematically;

comprehend and evaluate political and social developments in the world.

2 3 2

8. Express economic issues and problems in the means

of mathematics, accounting and statistics; and analyze and evaluate them with software packages.

3 3 2

9. Complete a project life cycle of an economic

problem individually and interpret findings and develop

solution.

2 3 3

10. Take various tasks as team members or leaders of

the team, show awareness of the requirements of

working in a team, and are committed to lifelong learning.

1 2 3

11. Are open-minded enough to try to understand

others' thoughts and actions with interrogative point of

view; socialized enough to communicate easily with others; respectful towards societal values and

competent enough to do the presentation in front of the


1 1 3


24




Skills


-Practical



2:Moderate contribution,


Lev

el

Desc

rip

tors

This person demonstrates knowledge and

understanding in a field of

study that builds upon their secondary education and

which is typically at a level,

whilst supported by appropriate learning

resources (texts, information

and communication technologies), which

includes some aspects that

will be informed by knowledge of the forefront

in a given field of study.

This person; (i) is able to apply acquired knowledge and critical understanding of the principles relating to the given

field of study/discipline in a manner to demonstrate

professional approach to their work or vocation, and has competences typically demonstrated through devising and

sustaining arguments and solving problems within a given

field of study; (ii) is able to apply main methods of acquiring new knowledge and applicative research in a

given discipline, and is able to decide on which approach

to use in solving a given problem and is aware of the extent to which the selected approach is suitable for solving such

a problem; (iii) is able to communicate in one or several

foreign languages and by using communication technologies, information, ideas, problems and solutions to

both specialist and non-specialist audiences for given area

of study.

Professional competence: This person (i) demonstrates ability to gather and interpret relevant

data (usually within the given field of study) to

inform judgments that include reflection on relevant social, scientific or ethical issues.

Personal competence: This person (i) has developed

learning skills to undertake further study, with a high degree of autonomy and academic skills and attributes

necessary to undertake research work, comprehend

and evaluate new information, concepts and evidence from a range of sources; (ii) possesses a foundation

for future self-directed and lifelong learning; (iii) has

acquired interpersonal skills, teamwork skills adequate for employment and further study.

12. Explain frontiers of the broad field of social

sciences-business-law including economics, specifies

the relationships of each narrow field with the broad field, explain the basic concepts of the broad field.

3 2 1

13. Comprehend the frontiers of detailed fields in the

narrow field of social and behavioral sciences including economics, explain the knowledge of basic

facts, principles, processes and general concepts of

detailed fields which consist of the narrow field, conduct analysis and evaluation at basic level by using

basic methods, tools and inputs.

3 2 1

14. Have cognitive and practical skills in order to

develop solutions and solve problems by using basic methods, tools and inputs in the detailed field including

economics.

1 3 2

15. Supervise and control routine works related to the narrow field including economics, take limited

responsibility for the evaluation and improvement of


1 2 3

16. Manage complex technical or professional activities

or projects in related to the narrow field including

economics.

3 3 3


25

c) Correspondence between the Learning Outcomes and Unit Courses

Courses in the first and second years of the Economics study program are mainly cornerstone, and university and faculty courses. The third and fourth

year courses are mainly capstone and program-specific courses. Therefore, design of curriculum start from more general and comprehensive subjects

toward more program and field specific subjects. The contribution of each unit course to program learning outcomes is depicted in terms of degree of

contribution. With the experience of three years, the curriculum of the Economics study program is evolved gradually to its own direction.

LOs of the Economics study program are met by unit courses satisfactorily. As could be seen from the tables below, only freshman year

university courses have relatively weak relationships with LOs. However, these courses are mainly related to generic competences.

Table 4: The matrix of learning outcomes and unit courses (University required and elective courses) (1st Cycle)

U

nit

Co

urse

s

Un

iver

sity

Req

uir

ed

Co

urse

s

Aca

dem

ic E

ng

lish

an

d E

ffec

tiv

e

Co

mm

un

icat

ion

Cal

culu

s I

Intr

odu

ctio

n t

o M

icro

econ

om

ics

Mat

hem

atic

al S

kil

ls

Intr

odu

ctio

n t

o M

anag

emen

t

Cri

tica

l R

eadin

g a

nd W

riti

ng

Intr

odu

ctio

n t

o M

acro

eco

no

mic

s P

rin

ciple

s o

f In

tern

atio

nal

Bu

sines

s

Sp

ok

en T

urk

ish

/Bo

snia

n I

Sp

ok

en T

urk

ish

/Bo

snia

n I

I

Un

iver

sity

Ele

ctiv

e C

ou

rses

Intr

odu

ctio

n t

o P

rog

ram

min

g

Glo

bal

izat

ion

an

d B

usi

nes

s

Un

der

stan

din

g P

oli

tics

,

Eco

no

my a

nd

Man

agem

ent

Intr

odu

ctio

n t

o L

iter

atu

re

Intr

odu

ctio

n t

o I

nte

rnat

ion

al

Rel

atio

ns

Wo

rld

His

tory

Th

e B

rain

Intr

odu

ctio

n t

o P

oli

tica

l S

cien

ce

ntr

odu

ctio

n t

o P

sych

olo

gy

Intr

odu

ctio

n t

o S

oci

olo

gy

Law

and

Eth

ics

Cri

tica

l T

hin

kin

g

Learning Program Outcomes

1. Comprehend, analyze and synthesize principles and theories in economics with an interrogative point of view.

- 2 3 1 1 - - 1 - -

.- - - - - - 1 - - - - 1

2. Keep track of scientific studies published in English related to economics,

explain them and re-apply them with different data; prepare works such as proceedings, articles, project reports.

3 - 3 - 1 3 - 1 - -

- - - - - - - - - - - -

3. Demonstrate mastery in accounting applications and regulations at working life on behalf of himself / herself or of others at public or private sector.

- - 1 2 - - - - - -

1 - - - - 2 - - - - - -

4. Demonstrate advanced skills having mastery and innovation in order to solve complex and unpredictable problems in economics.

- 2 2 2 1 - - 1 - -

2 1 1 1 1 - 1 1 1 1 - -

5. Take responsibility to make decision in unpredictable work or study contexts related to economics.

- - 2 1 - - - 2 - -

- - - - - 1 - - - - - 1

6. Take responsibility in the management of professional development of individuals or groups in the field of economics.

- - - 1 - - 2 1 - -

- - - - - 1 1 - - - 2 -


26

U

nit

Co

urse

s

Un

iver

sity

Req

uir

ed

Co

urse

s

Aca

dem

ic E

ng

lish

an

d E

ffec

tiv

e

Co

mm

un

icat

ion

Cal

culu

s I

Intr

odu

ctio

n t

o M

icro

econ

om

ics

Mat

hem

atic

al S

kil

ls

Intr

odu

ctio

n t

o M

anag

emen

t

Cri

tica

l R

eadin

g a

nd W

riti

ng

Intr

odu

ctio

n t

o M

acro

eco

no

mic

s P

rin

ciple

s o

f In

tern

atio

nal

Bu

sines

s

Sp

ok

en T

urk

ish

/Bo

snia

n I

Sp

ok

en T

urk

ish

/Bo

snia

n I

I

Un

iver

sity

Ele

ctiv

e C

ou

rses

Intr

odu

ctio

n t

o P

rog

ram

min

g

Glo

bal

izat

ion

an

d B

usi

nes

s

Un

der

stan

din

g P

oli

tics

,

Eco

no

my a

nd

Man

agem

ent

Intr

odu

ctio

n t

o L

iter

atu

re

Intr

odu

ctio

n t

o I

nte

rnat

ion

al

Rel

atio

ns

Wo

rld

His

tory

Th

e B

rain

Intr

odu

ctio

n t

o P

oli

tica

l S

cien

ce

ntr

odu

ctio

n t

o P

sych

olo

gy

Intr

odu

ctio

n t

o S

oci

olo

gy

Law

and

Eth

ics

Cri

tica

l T

hin

kin

g

7. Keep track of and report global, regional and local economic developments in a holistic standpoint; explains them analytically and systematically; comprehend and

evaluate political and social developments in the world.

- - 2 1 1 - - 1 - -

- 1 1 1 1 3 - 1 1 1 - -

8. Express economic issues and problems in the means of mathematics, accounting and statistics; and analyze and evaluate them with software packages.

- 3 1 2 1 - - 2 - - 2 - - - - - - - - - - 1

9. Complete a project life cycle of an economic problem individually and interpret findings and develop solution.

- 1 2 1 2 - - 3 1 1 - 1 1 1 1 - 1 1 1 1 - -

10. Take various tasks as team members or leaders of the team, show awareness of

the requirements of working in a team, and are committed to lifelong learning.

2 - - - 2 2 2 2 2 2 1 - - - - - 2 - - - 2 3

11. Are open-minded enough to try to understand others' thoughts and actions with

interrogative point of view; socialized enough to communicate easily with others; respectful towards societal values and competent enough to do the presentation in

front of the community. Present and comment findings and thoughts in an ethical

manner.

- - - - 1 - 2 2 2 2 - - - - - 1 1 - - - 2 2

12. Explain frontiers of the broad field of social sciences-business-law including

economics, specifies the relationships of each narrow field with the broad field,

explain the basic concepts of the broad field.

- 1 2 2 - - - 1 - - - 3 3 3 3 1 - 3 3 3 - 1

13. Comprehend the frontiers of detailed fields in the narrow field of social and behavioral sciences including economics, explain the knowledge of basic facts,

principles, processes and general concepts of detailed fields which consist of the

narrow field, conduct analysis and evaluation at basic level by using basic methods, tools and inputs.

- 1 3 2 1 - - 2 - - 1 3 3 3 3 1 - 3 3 3 - 1

14. Have cognitive and practical skills in order to develop solutions and solve

problems by using basic methods, tools and inputs in the detailed field including economics.

- - 1 1 1 - - 2 - - 1 1 1 1 1 - 2 1 1 1 - -

15. Supervise and control routine works related to the narrow field including

economics, take limited responsibility for the evaluation and improvement of


- - - 1 - - 1 2 2 2 - - - - - - - - - - 1 -

16. Manage complex technical or professional activities or projects in related to the

narrow field including economics.

- 1 2 1- - - - 2 - - 1 - - - - - - - - - - -

-:No contribution 14 9 4 3 6 14 12 1 12 12 9 10 10 10 10 9 9 10 10 10 12 6

1:Low level contribution 0 4 3 8 8 0 1 6 1 1 5 4 4 4 4 5 5 4 4 4 1 8

2:Moderate contribution 1 2 6 5 2 1 3 8 3 3 2 0 0 0 0 1 2 0 0 0 3 1

3:High level contribution 1 1 3 0 0 1 0 1 0 0 0 2 2 2 2 1

2 2 2 0 1


27

U

nit

Co

urse

s

Un

iver

sity

Req

uir

ed

Co

urse

s

Aca

dem

ic E

ng

lish

an

d E

ffec

tiv

e

Co

mm

un

icat

ion

Cal

culu

s I

Intr

odu

ctio

n t

o M

icro

econ

om

ics

Mat

hem

atic

al S

kil

ls

Intr

odu

ctio

n t

o M

anag

emen

t

Cri

tica

l R

eadin

g a

nd W

riti

ng

Intr

odu

ctio

n t

o M

acro

eco

no

mic

s P

rin

ciple

s o

f In

tern

atio

nal

Bu

sines

s

Sp

ok

en T

urk

ish

/Bo

snia

n I

Sp

ok

en T

urk

ish

/Bo

snia

n I

I

Un

iver

sity

Ele

ctiv

e C

ou

rses

Intr

odu

ctio

n t

o P

rog

ram

min

g

Glo

bal

izat

ion

an

d B

usi

nes

s

Un

der

stan

din

g P

oli

tics

,

Eco

no

my a

nd

Man

agem

ent

Intr

odu

ctio

n t

o L

iter

atu

re

Intr

odu

ctio

n t

o I

nte

rnat

ion

al

Rel

atio

ns

Wo

rld

His

tory

Th

e B

rain

Intr

odu

ctio

n t

o P

oli

tica

l S

cien

ce

ntr

odu

ctio

n t

o P

sych

olo

gy

Intr

odu

ctio

n t

o S

oci

olo

gy

Law

and

Eth

ics

Cri

tica

l T

hin

kin

g

Total

16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16


28

Table .5: The matrix of learning outcomes and unit courses (Faculty Required Courses) (1st Cycle)

Un

it C

ou

rse

s

Fa

cu

lty R

eq

uir

ed

Co

urse

s

Fin

anci

al A

cco

un

tin

g

Inte

rnat

ional

Poli

tica

l E

cono

my

Bu

sines

s F

inan

ce

Intr

odu

ctio

n t

o M

anag

emen

t S

cien

ce

Inte

rmed

iate

Mic

roec

on

om

ics

Inte

rmed

iate

Mac

roec

on

om

ics

Bu

sines

s S

tati

stic

s I

Bu

sines

s S

tati

stic

s II

Con

sum

er B

ehav

ior

Man

ager

ial

Mat

hem

atic

s


1. Comprehend, analyze and synthesize principles and theories in economics with an interrogative point of view. 1 3 3

3 3 2 2 - 2

2. Keep track of scientific studies published in English related to economics, explain them and re-apply them with different data; prepare works such as proceedings, articles, project reports.

- 3 3

3 3 - - - -

3. Demonstrate mastery in accounting applications and regulations at working life on behalf of himself / herself or of

others at public or private sector.

3 - -

- - - - - -

4. Demonstrate advanced skills having mastery and innovation in order to solve complex and unpredictable problems in economics.

- 3 3

3 3 3 3 1 2

5. Take responsibility to make decision in unpredictable work or study contexts related to economics. - 2 2

2 2 2 2 - -

6. Take responsibility in the management of professional development of individuals or groups in the field of

economics.

- - -

- - 1 1 - -

7. Keep track of and report global, regional and local economic developments in a holistic standpoint; explains them analytically and systematically; comprehend and evaluate political and social developments in the world.

- 2 2

2 2 2 2 1 -

8. Express economic issues and problems in the means of mathematics, accounting and statistics; and analyze and

evaluate them with software packages.

2 1 1

1 1 3 3 1 3

9. Complete a project life cycle of an economic problem individually and interpret findings and develop solution. 1 1 1

1 1 2 2 1 1

10. Take various tasks as team members or leaders of the team, show awareness of the requirements of working in a

team, and are committed to lifelong learning.

- - -

- - 1 1 - -

11. Are open-minded enough to try to understand others' thoughts and actions with interrogative point of view; socialized enough to communicate easily with others; respectful towards societal values and competent enough to do

the presentation in front of the community. Present and comment findings and thoughts in an ethical manner.

- - -

- - 1 1 - -

12. Explain frontiers of the broad field of social sciences-business-law including economics, specifies the relationships

of each narrow field with the broad field, explain the basic concepts of the broad field.

- 1 1

1 1 2 2 3 1

13. Comprehend the frontiers of detailed fields in the narrow field of social and behavioral sciences including

economics, explain the knowledge of basic facts, principles, processes and general concepts of detailed fields which

consist of the narrow field, conduct analysis and evaluation at basic level by using basic methods, tools and inputs.

2 1 1

1 1 2 2 3 1

14. Have cognitive and practical skills in order to develop solutions and solve problems by using basic methods, tools and inputs in the detailed field including economics.

1 2 2

2 2 2 2 1 -

15. Supervise and control routine works related to the narrow field including economics, take limited responsibility for

the evaluation and improvement of working and studying activities.

1 1 1

1 1 2 2 - -

16. Manage complex technical or professional activities or projects in related to the narrow field including economics. 1 1 1

1 1 2 2 - 1


29

Un

it C

ou

rse

s

Fa

cu

lty R

eq

uir

ed

Co

urse

s

Fin

anci

al A

cco

un

tin

g

Inte

rnat

ional

Poli

tica

l E

cono

my

Bu

sines

s F

inan

ce

Intr

odu

ctio

n t

o M

anag

emen

t S

cien

ce

Inte

rmed

iate

Mic

roec

on

om

ics

Inte

rmed

iate

Mac

roec

on

om

ics

Bu

sines

s S

tati

stic

s I

Bu

sines

s S

tati

stic

s II

Con

sum

er B

ehav

ior

Man

ager

ial

Mat

hem

atic

s

-:No contribution 8 4 4 6 4 4 6 6 9 9

1:Low level contribution 5 6 6 6 6 6 8 8 5 4

2:Moderate contribution 2 3 3 4 3 3 2 2 0 2

3:High level contribution 1 3 3 0 3 3 0 0 2 1

Total 16 16 16 16 16 16 16 16 16 16

Table .6: The matrix of learning outcomes and unit courses (Program Required Courses) (1st Cycle)

Un

it C

ou

rse

s

Prog

ram

Req

uir

ed

Co

urse

s

Fin

anci

al I

nst

itu

tion

s an

d M

arket

s

Inte

rnat

ional

Tra

de

Lab

or

Eco

no

mic

s

Mon

ey a

nd B

ank

ing

Eco

no

met

rics

Eco

no

met

rics

II

Pu

bli

c E

cono

mic

s

Inte

rnat

ional

Mon

etar

y S

yst

em

His

tory

of

Eco

no

mic

Tho

ugh

t

Inte

rnat

ional

Fin

ance


1. Comprehend, analyze and synthesize principles and theories in economics with an interrogative point of view. 3 3 3 3 2 2 3 3 3 3

2. Keep track of scientific studies published in English related to economics, explain them and re-apply them with different data;

prepare works such as proceedings, articles, project reports. 3 3 3 3 2 2 3 3 3 3

3. Demonstrate mastery in accounting applications and regulations at working life on behalf of himself / herself or of others at

public or private sector. 2 - - - - - - - - 2

4. Demonstrate advanced skills having mastery and innovation in order to solve complex and unpredictable problems in economics. 3 3 3 3 3 3 3 3 3 3

5. Take responsibility to make decision in unpredictable work or study contexts related to economics. 2 2 2 2 3 3 2 2 2 2

6. Take responsibility in the management of professional development of individuals or groups in the field of economics. - - - - 1 1 - - - -


30

Un

it C

ou

rse

s

Prog

ram

Req

uir

ed

Co

urse

s

Fin

anci

al I

nst

itu

tion

s an

d M

arket

s

Inte

rnat

ional

Tra

de

Lab

or

Eco

no

mic

s

Mon

ey a

nd B

ank

ing

Eco

no

met

rics

Eco

no

met

rics

II

Pu

bli

c E

cono

mic

s

Inte

rnat

ional

Mon

etar

y S

yst

em

His

tory

of

Eco

no

mic

Tho

ugh

t

Inte

rnat

ional

Fin

ance

7. Keep track of and report global, regional and local economic developments in a holistic standpoint; explains them analytically

and systematically; comprehend and evaluate political and social developments in the world.

2 2 2 2 2 2 2 2 2 2

8. Express economic issues and problems in the means of mathematics, accounting and statistics; and analyze and evaluate them

with software packages. 1 1 1 1 3 3 1 1 1 1

9. Complete a project life cycle of an economic problem individually and interpret findings and develop solution. 1 1 1 1 3 3 1 1 1 1

10. Take various tasks as team members or leaders of the team, show awareness of the requirements of working in a team, and are

committed to lifelong learning. - - - - 1 1 - - - -

11. Are open-minded enough to try to understand others' thoughts and actions with interrogative point of view; socialized enough to communicate easily with others; respectful towards societal values and competent enough to do the presentation in front of the


- - - - 1 1 - - - -

12. Explain frontiers of the broad field of social sciences-business-law including economics, specifies the relationships of each

narrow field with the broad field, explain the basic concepts of the broad field. 1 1 1 1 2 2 1 1 1 1

13. Comprehend the frontiers of detailed fields in the narrow field of social and behavioral sciences including economics, explain

the knowledge of basic facts, principles, processes and general concepts of detailed fields which consist of the narrow field, conduct

analysis and evaluation at basic level by using basic methods, tools and inputs.

1 1 1 1 2 2 1 1 1 1

14. Have cognitive and practical skills in order to develop solutions and solve problems by using basic methods, tools and inputs in

the detailed field including economics. 2 2 2 2 2 2 2 2 2 2

15. Supervise and control routine works related to the narrow field including economics, take limited responsibility for the evaluation and improvement of working and studying activities.

1 1 1 1 2 2 1 1 1 1

16. Manage complex technical or professional activities or projects in related to the narrow field including economics. 1 1 1 1 2 2 1 1 1 1

-:No contribution 3 4 4 4 1 1 1 4 4 3

1:Low level contribution 6 6 6 6 3 3 3 6 6 6

2:Moderate contribution 4 3 3 3 8 8 8 3 3 4

3:High level contribution 3 3 3 3 4 4 4 3 3 3

Total 16 16 16 16 16 16 16 16 16 16


31

Table .7: The matrix of learning outcomes and unit courses (Program Elective Courses) (1st Cycle)

Un

it C

ou

rse

s

Prog

ram

Ele

cti

ve C

ou

rse

s

Mat

rix

Alg

ebra

Eco

no

mic

His

tory

0 I

ndu

stri

al O

rgan

izat

ion

t

I E

nv

iro

nm

enta

l E

cono

mic

s

Gro

wth

an

d D

evel

op

men

t

Co

mp

arat

ive

Eco

no

mic

Sy

stem

s

s R

esea

rch

Met

hod

s

Man

agem

ent

Info

rmat

ion

Sy

stem

s

Ris

k a

nd

In

sura

nce

Inves

tmen

t &

Po

rtfo

lio M

anag

emen

t

Beh

avio

r F

inan

ce

Pu

bli

c F

inan

ce

Tim

e S

erie

s A

nal

ysi

s

Mic

rofi

nan

ce

Un

der

stan

din

g E

mer

gin

g M

ark

ets

Fin

anci

al I

nst

rum

ents

an

d A

nal

ysi

s

Equ

ity I

nst

rum

ents

and

Bu

sin

ess

Val

uat

ion

Isla

mic

Eco

no

mic

s

Equ

ity I

nst

rum

ents

and

Bu

sin

ess

Val

uat

ion

Inte

rnat

ional

Bu

sines

s L

aw

Inte

rnat

ional

Ban

kin

g

Pro

ject

Man

agem

ent

Mer

ger

s an

d A

cqu

isit

ion

s

Str

ateg

ic M

anag

emen

t

Fin

anci

al D

eriv

ates

and

Sim

ula

tion

s

Rea

l E

stat

e M

arket

s

Co

mm

od

ity D

eriv

ativ

es

Fin

anci

al R

isk

Man

agem

ent

Bond

Mar

ket

Pri

cing

and

Tra

din

g

Str

ateg

ies

Ad

van

ced

Fu

ture

s an

d O

pti

on

s

Pu

bli

c F

inan

ce

Mar

ket

ing

Hu

man

Res

ou

rces

Man

agem

ent

So

ciolo

gy

I B

usi

nes

s E

thic

s

Mult

inat

ional

Co

rpo

rati

on a

nd

pro

cess

of

glo

bal

iyat

ion P

roce

ss o

f In

tern

atio

nal

Fin

anci

al M

ark

ets

I E

ntr

epre

neu

rsh

ip a

nd

Sm

all

Bu

sines

s M

anag

emen

t In

no

vat

ion

Man

agem

ent

Inte

rnat

ional

Co

rpo

rate

Fin

ance

Op

erat

ion

s M

anag

emen

t


1. Comprehend, analyze and synthesize principles

and theories in economics with an interrogative

point of view.

3

3 3 3 2 3 3 3 1 2 3 3 3 3 3 1 1 3 1 - - - 2 - 1 3 - 1 2 1 - - 3 3 2 3

2. Keep track of basic-level scientific studies

published in English related to economics, explain

them and re-apply them with different data; prepare works such as proceedings, articles, project reports

consistent with this level.

3 2 3 3 3 - 3 3 3 - 3 3 3 3 3 3 1 1 3 1 - - - 3 - 1 3 - - 2 - - - 3 3 2 3 -

3. Demonstrate mastery in accounting applications

and regulations at working life on behalf of himself / herself or of others at public or private sector.

- - - - - - - - 2 3 - 3 - 2 - - 2 1 - - - - - - - 1 - - 3 2 - - - 2 - 2 2 -

4. Demonstrate advanced skills in order to solve complex problems in economics.

3 - 3 3 3 2 3 3 3 - 3 3 3 3 3 3 2 1 3 1 1 1 1 3 1 1 3 1 - 2 2 1 1 3 3 2 3 -

5. Take responsibility to make decision in

predictable but complex work or study contexts

related to economics.

2 1 2 2 2 1 2 2 2 - 2 2 2 2 2 2 1 - 2 2 - - - 2 - - 2 - - 2 - - - 2 2 2 2 1

6. Take over partial responsibility in the

management of professional development of

individuals or groups in the field of economics.

- 1 - - - 1 - - - - - 2 - - - - - - - 1 - - - - - - - - - 2 - - - - - 2 - -

7. Keep track of and report global, regional and

local economic developments; explains them analytically and systematically; keep track of

political and social developments in the world.

2 - 2 2 2 2 2 2 2 - 2 2 2 2 2 2 3 1 2 1 2 1 1 2 1 1 2 2 - 2 2 1 2 2 2 2 2 -

8. Express economic issues and problems in the means of mathematics, accounting and statistics;

and analyze them with software packages.

1 2 1 1 1 2 1 1 3 2 1 2 1 3 1 1 3 - 1 2 - 1 1 1 1 - 1 - 2 2 - 1 - 1 1 2 1 1


32

Un

it C

ou

rse

s

Prog

ram

Ele

cti

ve C

ou

rse

s

Mat

rix

Alg

ebra

Eco

no

mic

His

tory

0 I

ndu

stri

al O

rgan

izat

ion

t

I E

nv

iro

nm

enta

l E

cono

mic

s

Gro

wth

an

d D

evel

op

men

t

Co

mp

arat

ive

Eco

no

mic

Sy

stem

s

s R

esea

rch

Met

hod

s

Man

agem

ent

Info

rmat

ion

Sy

stem

s

Ris

k a

nd

In

sura

nce

Inves

tmen

t &

Po

rtfo

lio M

anag

emen

t

Beh

avio

r F

inan

ce

Pu

bli

c F

inan

ce

Tim

e S

erie

s A

nal

ysi

s

Mic

rofi

nan

ce

Un

der

stan

din

g E

mer

gin

g M

ark

ets

Fin

anci

al I

nst

rum

ents

an

d A

nal

ysi

s

Equ

ity I

nst

rum

ents

and

Bu

sin

ess

Val

uat

ion

Isla

mic

Eco

no

mic

s

Equ

ity I

nst

rum

ents

and

Bu

sin

ess

Val

uat

ion

Inte

rnat

ional

Bu

sines

s L

aw

Inte

rnat

ional

Ban

kin

g

Pro

ject

Man

agem

ent

Mer

ger

s an

d A

cqu

isit

ion

s

Str

ateg

ic M

anag

emen

t

Fin

anci

al D

eriv

ates

and

Sim

ula

tion

s

Rea

l E

stat

e M

arket

s

Co

mm

od

ity D

eriv

ativ

es

Fin

anci

al R

isk

Man

agem

ent

Bond

Mar

ket

Pri

cing

and

Tra

din

g

Str

ateg

ies

Ad

van

ced

Fu

ture

s an

d O

pti

on

s

Pu

bli

c F

inan

ce

Mar

ket

ing

Hu

man

Res

ou

rces

Man

agem

ent

So

ciolo

gy

I B

usi

nes

s E

thic

s

Mult

inat

ional

Co

rpo

rati

on a

nd

pro

cess

of

glo

bal

iyat

ion P

roce

ss o

f In

tern

atio

nal

Fin

anci

al M

ark

ets

I E

ntr

epre

neu

rsh

ip a

nd

Sm

all

Bu

sines

s M

anag

emen

t In

no

vat

ion

Man

agem

ent

Inte

rnat

ional

Co

rpo

rate

Fin

ance

Op

erat

ion

s M

anag

emen

t

9. Complete a project life cycle of an economic

problem individually and interpret findings and develop solution.

2 1 1 1 1 1 2 1 1 1 1 1 3 1 1 1 1 2 - 1 3 1 1 1 1 1 - 1 1 1 2 1 1 1 1 1 1 1 1

10. Take various tasks as team member or leader of

the team, show awareness of the requirements of working in a team, and identify the needs in

economics in terms of lifelong learning.

- - 1 - - - 1 - - - - - 2 - - - - - - - 2 - - - - - - - - - 1 - - - - - 1 - 1

11. Are open-minded enough to try to understand others' thoughts; socialized enough to

communicate easily with others; respectful

towards various societal values and self confident enough to do the presentation in front

of the community. Present and comment

findings and thoughts in an ethical manner.

- - - - - - 1 - - - - - 2 - - - - - - - 2 - - - - - - - - - - - - - - - 2 - -

12. Explain frontiers of the broad field of social

sciences-business-law including economics, specifies the relationships of each narrow field with

the broad field, explain the basic concepts of the

broad field.

1 1 2 1 1 1 1 1 1 1 - 1 1 1 1 1 1 1 3 1 1 2 3 3 1 3 3 1 2 - 1 2 3 2 1 1 1 1 -

13. Comprehend the frontiers of detailed fields in

the narrow field of social and behavioral sciences including economics, explain the knowledge of

basic facts, principles, processes and general

concepts of detailed fields which consist of the narrow field, conduct analysis and evaluation at

basic level by using basic methods, tools and inputs.

1 1 2 1 1 1 1 1 1 1 2 1 - 1 1 1 1 1 2 1 2 2 3 3 1 3 2 1 2 2 - 2 3 2 1 1 - 1 3

14. Have cognitive and practical skills in order to

develop solutions and solve problems by using basic methods, tools and inputs in the detailed field

including economics.

- 2 2 2 2 2 2 2 2 2 1 2 - 2 2 2 2 2 1 2 2 1 2 2 2 2 1 2 1 1 - 2 2 1 2 2 - 2 3

15. Supervise and control routine works related to

the narrow field including economics, take limited

responsibility for the evaluation and improvement of working and studying activities.

2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 - 1 1 2 - - - 1 - 1 1 - 1

-

- - - 1 1 1 1 2


33

Un

it C

ou

rse

s

Prog

ram

Ele

cti

ve C

ou

rse

s

Mat

rix

Alg

ebra

Eco

no

mic

His

tory

0 I

ndu

stri

al O

rgan

izat

ion

t

I E

nv

iro

nm

enta

l E

cono

mic

s

Gro

wth

an

d D

evel

op

men

t

Co

mp

arat

ive

Eco

no

mic

Sy

stem

s

s R

esea

rch

Met

hod

s

Man

agem

ent

Info

rmat

ion

Sy

stem

s

Ris

k a

nd

In

sura

nce

Inves

tmen

t &

Po

rtfo

lio M

anag

emen

t

Beh

avio

r F

inan

ce

Pu

bli

c F

inan

ce

Tim

e S

erie

s A

nal

ysi

s

Mic

rofi

nan

ce

Un

der

stan

din

g E

mer

gin

g M

ark

ets

Fin

anci

al I

nst

rum

ents

an

d A

nal

ysi

s

Equ

ity I

nst

rum

ents

and

Bu

sin

ess

Val

uat

ion

Isla

mic

Eco

no

mic

s

Equ

ity I

nst

rum

ents

and

Bu

sin

ess

Val

uat

ion

Inte

rnat

ional

Bu

sines

s L

aw

Inte

rnat

ional

Ban

kin

g

Pro

ject

Man

agem

ent

Mer

ger

s an

d A

cqu

isit

ion

s

Str

ateg

ic M

anag

emen

t

Fin

anci

al D

eriv

ates

and

Sim

ula

tion

s

Rea

l E

stat

e M

arket

s

Co

mm

od

ity D

eriv

ativ

es

Fin

anci

al R

isk

Man

agem

ent

Bond

Mar

ket

Pri

cing

and

Tra

din

g

Str

ateg

ies

Ad

van

ced

Fu

ture

s an

d O

pti

on

s

Pu

bli

c F

inan

ce

Mar

ket

ing

Hu

man

Res

ou

rces

Man

agem

ent

So

ciolo

gy

I B

usi

nes

s E

thic

s

Mult

inat

ional

Co

rpo

rati

on a

nd

pro

cess

of

glo

bal

iyat

ion P

roce

ss o

f In

tern

atio

nal

Fin

anci

al M

ark

ets

I E

ntr

epre

neu

rsh

ip a

nd

Sm

all

Bu

sines

s M

anag

emen

t In

no

vat

ion

Man

agem

ent

Inte

rnat

ional

Co

rpo

rate

Fin

ance

Op

erat

ion

s M

anag

emen

t

16. Manage complex technical or professional

activities or projects in related to the narrow field including economics.

1 1 1 1 1 1 1 1 1 1 1 1 - 1 1 1 1 2 1 1 2 - - - 1 - 1 1 - 1

-

- - - 1 1 2 1 -

-:No contribution

1 4 1 4 4 4 2 4 4 3 8 4 3 4 3 4 4 4 6 4 1 10 9 9 4 9 6 4 10 8 5 9 9 10 3 4 10 3 -

1:Low level contribution

- 6 4 6 6 6 8 6 6 5 5 6 2 6 5 6 6 5 8 6 6 3 4 4 6 4 8 6 3 5 2 2 4 3 6 6 4 6 9

2:Moderate contribution

2 3 7 3 3 3 6 3 3 4 2 4 6 3 4 3 3 5 1 3 8 3 1 1 4 1 1 3 3 2 9 5 1 3 4 3 2 4 4

3:High level contribution

2 3 5 3 3 3 0 3 3 4 1 2 5 3 4 3 3 2 1 3 1 0 2 2 2 2 1 3 0 1 0 0 2 0 3 3 0 3 1

Total

2 16 0 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16


34

2) Second Cycle


All objectives of the Economics study program (2nd

Cycle) are met by the LOs. All objective are supported strongly by at least two LOs. Especially

objectives related to the professional dimension of economics supported strongly more than 10 LOs. The correspondence between the objectives and the

learning outcomes of the Economics study program is quite satisfactory.

Table .8: The matrix of objectives and learning outcomes (2nd Cycle)

Un

it C

ou

rse

s

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y

prog

ram

(i)

Co

mp

rehen

d t

he

adv

ance

d t

heo

reti

cal

fram

ewo

rk o

f ec

on

om

ics;

(ii)

Con

ceptu

aliz

e co

mp

lex e

con

om

ic

pro

ble

ms

and

cond

uct

ap

pli

cati

on

-anal

ysi

s-

eval

uat

ion

-rep

ort

ing

;

(iii

) H

ave

hig

h i

mple

men

tati

on s

kil

ls t

o

app

ly m

ath

emat

ical

kn

ow

led

ge

in t

he

pro

fess

ional

fie

ld;

(iv

) U

se a

dvan

ced

tec

hn

iqu

es o

f so

ftw

are

pac

kag

es o

f ac

coun

tin

g,

fin

ance

and

sta

tist

ics

/ ec

ono

met

rics

an

d i

nfo

rmat

ion

tec

hno

logie

s

effe

ctiv

ely

;

(v)

Hav

e ef

fect

ive

self

-exp

ress

ion

in w

riti

ng

scie

nti

fic

pap

ers

and

ver

bal

ly i

n E

ngli

sh;

(vi)

Hav

e hig

h s

kil

ls i

n c

om

mu

nic

atio

n a

nd

soci

al m

atte

rs;

(vii

) H

ave

dev

eloped

an

d l

ead

ersh

ip b

ehav

ior

in w

ork

ing

-ind

epen

den

tly a

nd t

akin

g-

resp

on

sibil

ity

;

(vii

i) H

ave

abil

ity t

o c

on

trib

ute

glo

bal

and

inte

rrog

ativ

e und

erst

andin

g;

(ix

) H

ave

abil

ity t

o d

evel

op

solu

tion

s to

soci

etal

pro

ble

ms

and

hav

e le

adin

g a

ttit

ude

of

acti

ve

citi

zen

ship

;

(x)

Hav

e h

igh

inte

llec

tual

vis

ion;

(xi)

Hav

e in

tern

aliz

ed a

nd

lea

din

g

phil

oso

phy

of

life

lon

g l

earn

ing.


1. Analyze, synthesize and evaluate theoretical framework of economics with an interrogative point of view.

3 3 3 2 3 1 1 1 - 1 2

2. Keep track of intermediate-level scientific studies published in English in the

field of economics, explain, evaluate and re-apply them with different data; prepare works such as proceedings, articles, project reports consistent with this level.

3 3 3 2 3 1 1 1 - 1 2

3. Demonstrate advanced skills having mastery in order to solve complex and

unpredictable problems in economics consistent with these skills.

3 3 3 2 2 1 1 1 - 1 2

4. Take responsibility to make decision in unpredictable and complex work or study

contexts related to economics.

2 3 2 2 2 3 3 2 1 2 2

5. Keep track of and report global, regional and local economic developments in a

holistic standpoint; evaluate them analytically and systematically; comprehend political and social developments in the world.

2 2 2 2 2 3 2 3 3 3 2

6. Express complex economic issues and problems in the means of mathematics,

accounting, statistics and econometrics; and analyze and evaluate them with

software packages.

3 3 3 3 2 2 1 1 1 2 3

7. Have theoretical and factual knowledge on basic facts, principles, processes and

general concepts (at the interface) for their interrelations and relative situations in

2 2 2 2 2 3 2 3 3 3 3


35

Un

it C

ou

rse

s

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y

prog

ram

(i)

Co

mp

rehen

d t

he

adv

ance

d t

heo

reti

cal

fram

ewo

rk o

f ec

on

om

ics;

(ii)

Con

ceptu

aliz

e co

mp

lex e

con

om

ic

pro

ble

ms

and

cond

uct

ap

pli

cati

on

-anal

ysi

s-

eval

uat

ion

-rep

ort

ing

;

(iii

) H

ave

hig

h i

mple

men

tati

on s

kil

ls t

o

app

ly m

ath

emat

ical

kn

ow

led

ge

in t

he

pro

fess

ional

fie

ld;

(iv

) U

se a

dvan

ced

tec

hn

iqu

es o

f so

ftw

are

pac

kag

es o

f ac

coun

tin

g,

fin

ance

and

sta

tist

ics

/ ec

ono

met

rics

an

d i

nfo

rmat

ion

tec

hno

logie

s

effe

ctiv

ely

;

(v)

Hav

e ef

fect

ive

self

-exp

ress

ion

in w

riti

ng

scie

nti

fic

pap

ers

and

ver

bal

ly i

n E

ngli

sh;

(vi)

Hav

e hig

h s

kil

ls i

n c

om

mu

nic

atio

n a

nd

soci

al m

atte

rs;

(vii

) H

ave

dev

eloped

an

d l

ead

ersh

ip b

ehav

ior

in w

ork

ing

-ind

epen

den

tly a

nd t

akin

g-

resp

on

sibil

ity

;

(vii

i) H

ave

abil

ity t

o c

on

trib

ute

glo

bal

and

inte

rrog

ativ

e und

erst

andin

g;

(ix

) H

ave

abil

ity t

o d

evel

op

solu

tion

s to

soci

etal

pro

ble

ms

and

hav

e le

adin

g a

ttit

ude

of

acti

ve

citi

zen

ship

;

(x)

Hav

e h

igh

inte

llec

tual

vis

ion;

(xi)

Hav

e in

tern

aliz

ed a

nd

lea

din

g

phil

oso

phy

of

life

lon

g l

earn

ing.

the detailed field of works or studies (economics).

8. Have specialized problem-solving skills in a field of work or study (economics), required in research and/or innovation in order to develop new knowledge and

procedures and to integrate knowledge from different fields.

3 3 2 3 2 2 2 2 2 2 3

9. Manage and transform work and study environments that are complex,

unpredictable and require new strategic approaches in a work or study field (economics).

2 3 2 2 2 2 3 2 2 2 2

10. Complete a project life cycle of a complex economic problem individually and

interpret findings and develop solution.

2 3 3 3 3 2 2 2 2 2 3

11. Take various complex tasks as team member or leader of the team, have skills and competences of the requirements of working in a team, and design and meet the

needs in economics in terms of lifelong learning.

2 2 2 2 2 3 3 2 2 2 3

12. Take responsibility and/or to review the strategic performance of teams in order to contribute to professional knowledge and practices in a work or study field

(economics).

2 2 3 3 2 2 3 2 2 2 3

13. Take over full responsibility in the management of professional development of individuals or groups in the field of economics.

1 2 1 2 2 2 3 2 2 2 3

14. Are open-minded enough to work with others as team member or leader and

actions with interrogative point of view; socialized enough to communicate

effectively with others; having positive attitudes towards the diversity in the society and competent enough to do the presentation effectively in front of the community.

Present and comment findings and thoughts in an ethical manner.

1 2 2 2 2 2 3 3 3 3 3

-:No contribution 0 0 0 0 0 0 0 0 3 0 0




Total 14 14 14 14 14 14 14 14 14 14 14



36





Table .9: Matrix of program learning outcomes and BH Qualifications Framework (2nd Cycle)

7.LEVEL (Second Cycle)



Skills


-Practical



1:Low level contribution,

2:Moderate contribution, 3:High level contribution.

L

evel

Desc

rip

tors

This person is able to demonstrate a systematic

understanding and mastering

of knowledge in his/her field of study/discipline, that is

founded upon and extends

and/or enhances the undergraduate-level studies

(first cycle), and that provides

a basis or opportunity for originality in developing

and/or applying ides, usually

within a research context.

This person (i) demonstrates ability to apply knowledge and

understanding, and problem solving

abilities in new and unfamiliar environment within broader (or

interdisciplinary) contexts related to

their field of study; (ii) has ability to apply conceptual and abstract

thinking with a high level of

proficiency and creativity whereby enabling: - critical evaluation of

current research and academic work

at the forefront of the discipline, -evaluation of different

methodologies, development of

critical opinion and raising of alternative solutions.

Professional competence: This person (i) has ability to integrate knowledge and handle complex problems, and formulate judgments

with incomplete or limited information, but that include reflecting

on social and ethical responsibilities linked to the application of their knowledge or judgments; (ii) is able to communicate the

conclusions, and the knowledge and rationale underpinning these

using appropriate language(s), to specialist and non-specialist audiences, clearly and unambiguously; Personal competence: This

person (i) is able to take own knowledge to a higher level, deepen

the understanding of their field of study/discipline and continuously develop their own new skills through individual learning and self-

development; (ii) has the learning skills to allow them to continue to

study in a manner that may be largely self directed and autonomous; (iii) has acquired interpersonal and teamwork skills appropriate to a

variety of learning and employment contexts and also demonstrates

leadership and/or initiative and makes a contribution to change and development.


1. Analyze, synthesize and evaluate theoretical framework of

economics with an interrogative point of view.

3 3 2

2. Keep track of intermediate-level scientific studies published in

English in the field of economics, explain, evaluate and re-apply

them with different data; prepare works such as proceedings, articles, project reports consistent with this level.

3 3 2

3. Demonstrate advanced skills having mastery in order to solve

complex and unpredictable problems in economics consistent with

these skills.

2 3 3

4. Take responsibility to make decision in unpredictable and complex work or study contexts related to economics.

2 3 3

5. Keep track of and report global, regional and local economic developments in a holistic standpoint; evaluate them analytically

and systematically; comprehend political and social developments

in the world.

3 2 2


37




Skills


-Practical





L

evel

Desc

rip

tors
































6. Express complex economic issues and problems in the means of mathematics, accounting, statistics and econometrics; and analyze

and evaluate them with software packages.

3 2 2

7. Have theoretical and factual knowledge on basic facts,

principles, processes and general concepts (at the interface) for

their interrelations and relative situations in the detailed field of

works or studies (economics).

3 2 2

8. Have specialized problem-solving skills in a field of work or

study (economics), required in research and/or innovation in order to develop new knowledge and procedures and to integrate

knowledge from different fields.

2 3 3

9. Manage and transform work and study environments that are

complex, unpredictable and require new strategic approaches in a work or study field (economics).

1 2 3

10. Complete a project life cycle of a complex economic problem

individually and interpret findings and develop solution.

2 3 3

11. Take various complex tasks as team member or leader of the

team, have skills and competences of the requirements of working in a team, and design and meet the needs in economics in terms of

lifelong learning.

1 2 3

12. Take responsibility and/or to review the strategic performance

of teams in order to contribute to professional knowledge and practices in a work or study field (economics).

1 1 3

13. Take over full responsibility in the management of professional development of individuals or groups in the field of

economics.

1 2 3


38




Skills


-Practical





L

evel

Desc

rip

tors
































14. Are open-minded enough to work with others as team member

or leader and actions with interrogative point of view; socialized

enough to communicate effectively with others; having positive attitudes towards the diversity in the society and competent

enough to do the presentation effectively in front of the

community. Present and comment findings and thoughts in an

ethical manner.

1 1 3

-:No contribution 0 0 0

1:Low level contribution 5 2 0

2:Moderate contribution 4 6 5

3:High level contribution 5 6 9

Total 14 14 14


Courses in second cycle study program in Economics are mainly detailed and narrow field based courses. Master thesis is the most important outcome of

the whole program. Therefore, design of curriculum is intensifying on using methodology and advanced level field courses. The contribution of each unit

course or master thesis to program learning outcomes is depicted in terms of degree of contribution. With the experience since 2011, the curriculum of

the second cycle study program Economics is evolved gradually to its own direction.

LOs of the Economics study program are met by unit courses satisfactorily. As could be seen from the table below, only generic competences are

supported weakly by unit courses. In order to support these competences IUS has various centers and conference type events.


39

Table .10: The matrix of learning outcomes and unit courses (2nd Cycle)

-:No contribution (~ very low), 1:Low level contribution, 2:Moderate contribution, 3:High level contribution

Un

it C

ou

rse

s

Req

uir

ed

Co

urs

es

Gra

duat

e S

emin

ar i

n E

CO

I

Gra

duat

e S

emin

ar i

n E

CO

II

Eco

no

met

rics

Mas

ter

Thes

is

Ele

cti

ve

Co

urse

s

Mic

roec

ono

mic

s

Mac

roec

ono

mic

s

Inte

rnat

ional

eco

no

mic

s

Glo

bal

izat

ion

an

d G

lobal

Gov

ernan

ce

Eco

no

mic

Gro

wth

an

d D

evel

op

men

t

Co

mp

arat

ive

Eco

no

mic

Sy

stem

s

Indu

stri

al E

con

om

ics

Inte

rnat

ional

Fin

anci

al M

ark

ets

Bu

sines

s F

inan

ce

Inte

rnat

ional

ban

kin

g a

nd

Fin

ance

Fin

anci

al m

anag

emen

t

Hu

man

Res

ou

rce

Man

agem

ent

Ad

van

ced

En

trep

reneu

rsh

ip a

nd

Sm

all

Bu

sines

s M

anag

emen

t

Str

ateg

ic M

anag

emen

t an

d B

usi

nes

s P

oli

cy

Mar

ket

ing M

anag

emen

t

Man

agem

ent

Info

rmat

ion

Sy

stem

s


1. Analyze, synthesize and evaluate theoretical framework of

economics with an interrogative point of view.

3 3 3 3

3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 1

2. Keep track of intermediate-level scientific studies published in

English in the field of economics, explain, evaluate and re-apply them with different data; prepare works such as proceedings,

articles, project reports consistent with this level.

3 3 3 3 3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 1

3. Demonstrate advanced skills having mastery in order to solve complex and unpredictable problems in economics consistent with

these skills.

3 3 3 3 3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 1

4. Take responsibility to make decision in unpredictable and

complex work or study contexts related to economics.

3 3 3 3 3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 1

5. Keep track of and report global, regional and local economic

developments in a holistic standpoint; evaluate them analytically and systematically; comprehend political and social developments

in the world.

3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

6. Express complex economic issues and problems in the means of

mathematics, accounting, statistics and econometrics; and analyze

and evaluate them with software packages.

3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

7. Have theoretical and factual knowledge on basic facts,

principles, processes and general concepts (at the interface) for

their interrelations and relative situations in the detailed field of works or studies (economics).

3 3 3 3 3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 1

8. Have specialized problem-solving skills in a field of work or

study (economics), required in research and/or innovation in order to develop new knowledge and procedures and to integrate

knowledge from different fields.

3 3 3 3 3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 1


40


2:Moderate contribution, 3:High level contribution

Un

it C

ou

rse

s

Req

uir

ed

Co

urs

es

Gra

duat

e S

emin

ar i

n E

CO

I

Gra

duat

e S

emin

ar i

n E

CO

II

Eco

no

met

rics

Mas

ter

Thes

is

Ele

cti

ve

Co

urse

s

Mic

roec

ono

mic

s

Mac

roec

ono

mic

s

Inte

rnat

ional

eco

no

mic

s

Glo

bal

izat

ion

an

d G

lobal

Gov

ernan

ce

Eco

no

mic

Gro

wth

an

d D

evel

op

men

t

Co

mp

arat

ive

Eco

no

mic

Sy

stem

s

Indu

stri

al E

con

om

ics

Inte

rnat

ional

Fin

anci

al M

ark

ets

Bu

sines

s F

inan

ce

Inte

rnat

ional

ban

kin

g a

nd

Fin

ance

Fin

anci

al m

anag

emen

t

Hu

man

Res

ou

rce

Man

agem

ent

Ad

van

ced

En

trep

reneu

rsh

ip a

nd

Sm

all

Bu

sines

s M

anag

emen

t

Str

ateg

ic M

anag

emen

t an

d B

usi

nes

s P

oli

cy

Mar

ket

ing M

anag

emen

t

Man

agem

ent

Info

rmat

ion

Sy

stem

s

9. Manage and transform work and study environments that are

complex, unpredictable and require new strategic approaches in a

work or study field (economics).

3 3 3 3 3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 1

10. Complete a project life cycle of a complex economic problem

individually and interpret findings and develop solution.

3 3 3 3 3 3 3 2 3 3 3 3 2 3 3 2 2 2 2 3

11. Take various complex tasks as team member or leader of the team, have skills and competences of the requirements of working

in a team, and design and meet the needs in economics in terms of

lifelong learning.

2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

12. Take responsibility and/or to review the strategic performance of teams in order to contribute to professional knowledge and

practices in a work or study field (economics).

2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

13. Take over full responsibility in the management of

professional development of individuals or groups in the field of economics.

2 2 2 2 - - - - - - - - - - - - - - - -

14. Are open-minded enough to work with others as team member

or leader and actions with interrogative point of view; socialized enough to communicate effectively with others; having positive

attitudes towards the diversity in the society and competent

enough to do the presentation effectively in front of the community. Present and comment findings and thoughts in an

ethical manner.

2 2 2 2 - - - - - - - - - - - - - - - -

-:No contribution 0 0 0 0 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

1:Low level contribution 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 8

2:Moderate contribution 4 4 4 3 3 3 3 11 3 3 3 3 11 3 3 11 11 11 11 3

3:High level contribution 10 10 10 11 8 8 8 0 8 8 8 8 0 8 8 0 0 0 0 1

Total 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14 14


41

3) Third Cycle


All objectives of the Economics study program (3rd Cycle) are met by the LOs. All objective are supported strongly by at least two LOs. Especially

objectives related to the professional dimension of economics supported strongly more than 10 LOs. The correspondence between the objectives and the

learning outcomes of the Economics study program is quite satisfactory.

Students must take two required courses and Science research project (required course). Also, students take six elective courses. Students need to

write their Ph.D. dissertation, which is worth 120 ECTS.

Table .11: The matrix of objectives and learning outcomes (3rd Cycle)

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y p

rog

ram

(i)

Eval

uat

e th

e ad

van

ced

theo

reti

cal

fram

ewo

rk o

f

econo

mic

s;

(ii

) C

on

cep

tual

ize

com

ple

x a

nd

unp

redic

tab

le

econo

mic

pro

ble

ms

and

co

nd

uct

an

aly

sis-

eval

uat

ion

-

crea

tio

n-r

epo

rtin

g;

(ii

i) H

ave

hig

hes

t im

ple

men

tati

on

sk

ills

to a

pp

ly

adv

ance

d m

athem

atic

al k

no

wle

dg

e in

the

pro

fess

ional

fie

ld;

(iv

) U

se a

dv

ance

d t

ech

niq

ues

of

soft

war

e pac

kag

es

of

acco

un

tin

g,

fin

ance

and

sta

tist

ics

/ ec

ono

met

rics

and

in

form

atio

n t

ech

no

log

ies

effe

ctiv

ely

, an

d

eval

uat

e an

d d

evel

op t

hes

e te

chn

iques

wh

en

nec

essa

ry;

(v

) H

ave

mo

st e

ffec

tiv

e se

lf-e

xp

ress

ion i

n w

riti

ng

scie

nti

fic

pap

ers

and

ver

bal

ly i

n E

ngli

sh;

(v

i) H

ave

hig

h a

nd

co

mp

lex s

kil

ls i

n c

om

mun

icat

ion

and

so

cial

mat

ters

;

(v

ii)

Hav

e m

ost

dev

eloped

an

d c

reat

ive

lead

ersh

ip

beh

avio

ur

in w

ork

ing

-ind

epen

den

tly

an

d t

akin

g-

resp

on

sibil

ity

;

(v

iii)

Hav

e ab

ilit

y t

o d

evel

op a

nd c

reat

e glo

bal

and

inte

rrog

ativ

e und

erst

andin

g;

(ix

) H

ave

abil

ity

to c

reat

e so

luti

on

s to

co

mp

lex a

nd

unp

red

icta

ble

soci

etal

pro

ble

ms

and

hav

e le

adin

g a

nd

crea

tiv

e at

titu

de

of

acti

ve

citi

zen

ship

;

(x

) H

ave

the

hig

hes

t in

tell

ectu

al v

isio

n;

(x

i) H

ave

inte

rnal

ized

, le

adin

g a

nd

cre

ativ

e

phil

oso

phy

of

life

lon

g l

earn

ing.


1. Synthesize, evaluate and contribute to theoretical framework

of economics with an interrogative point of view.

3 3 2 2 2 1 1 1 1 2 2

2. Keep track of advanced-level scientific studies published in

English related to economics, evaluate and re-apply them with different data and methodology; prepare works such as

proceedings, articles, project reports consistent with this level.

3 3 2 2 2 1 1 1 1 2 2

3. Demonstrate creative skills having mastery and innovation in order to solve complex and unpredictable problems in

economics consistent with these skills.

3 3 3 3 3 1 1 1 1 2 2


42

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y p

rog

ram

(i)

Eval

uat

e th

e ad

van

ced

theo

reti

cal

fram

ewo

rk o

f

econo

mic

s;

(ii

) C

on

cep

tual

ize

com

ple

x a

nd

unp

redic

tab

le

econo

mic

pro

ble

ms

and

co

nd

uct

an

aly

sis-

eval

uat

ion

-

crea

tio

n-r

epo

rtin

g;

(ii

i) H

ave

hig

hes

t im

ple

men

tati

on

sk

ills

to a

pp

ly

adv

ance

d m

athem

atic

al k

no

wle

dg

e in

the

pro

fess

ional

fie

ld;

(iv

) U

se a

dv

ance

d t

ech

niq

ues

of

soft

war

e pac

kag

es

of

acco

un

tin

g,

fin

ance

and

sta

tist

ics

/ ec

ono

met

rics

and

in

form

atio

n t

ech

no

log

ies

effe

ctiv

ely

, an

d

eval

uat

e an

d d

evel

op t

hes

e te

chn

iques

wh

en

nec

essa

ry;

(v

) H

ave

mo

st e

ffec

tiv

e se

lf-e

xp

ress

ion i

n w

riti

ng

scie

nti

fic

pap

ers

and

ver

bal

ly i

n E

ngli

sh;

(v

i) H

ave

hig

h a

nd

co

mp

lex s

kil

ls i

n c

om

mun

icat

ion

and

so

cial

mat

ters

;

(v

ii)

Hav

e m

ost

dev

eloped

an

d c

reat

ive

lead

ersh

ip

beh

avio

ur

in w

ork

ing

-ind

epen

den

tly

an

d t

akin

g-

resp

on

sibil

ity

;

(v

iii)

Hav

e ab

ilit

y t

o d

evel

op a

nd c

reat

e glo

bal

and

inte

rrog

ativ

e und

erst

andin

g;

(ix

) H

ave

abil

ity

to c

reat

e so

luti

on

s to

co

mp

lex a

nd

unp

red

icta

ble

soci

etal

pro

ble

ms

and

hav

e le

adin

g a

nd

crea

tiv

e at

titu

de

of

acti

ve

citi

zen

ship

;

(x

) H

ave

the

hig

hes

t in

tell

ectu

al v

isio

n;

(x

i) H

ave

inte

rnal

ized

, le

adin

g a

nd

cre

ativ

e

phil

oso

phy

of

life

lon

g l

earn

ing.

4. Take over full responsibility to make decision in highly

complex and unpredictable advanced work or study contexts related to economics.

1 1 1 2 1 1 2 2 3 2 3

5. Express highly complex economic issues and problems in

the means of mathematics, accounting, statistics and

econometrics; and evaluate them with software packages by developing new methodologies.

3 3 3 3 2 2 2 2 2 2 3

6.Knowledge at the most advanced level in a subject specific work or study field (program) to extent or develop the borders

of knowledge produced, in this framework to make it possible

for advanced analysis and evaluation of interdisciplinary facts, principles, processes and concepts in other relevant detailed

fields.

3 3 3 3 3 2 2 2 2 2 3

7.Have the most advanced and specialized skills and

techniques, including synthesis and evaluation, required to

solve critical problems in research and/or innovation and to define and extend existing knowledge or practices in a subject

specific work or study field (economics).

2 2 3 3 3 2 2 3 2 2 3

8. Demonstrate substantial authority, innovation, autonomy,

scholarly and professional integrity and sustained commitment

to the development of new ideas or processes at the forefront

of work or study contexts including research in a work or study field (economics).

2 2 3 3 3 3 3 3 3 3 3

9. Keep track of and report complex global, regional and local economic developments in a critical and holistic standpoint;

evaluate political and social developments in the world.

2 2 2 2 3 3 3 2 3 3 3


43

Ob

jecti

ves

of

the

Eco

no

mic

s st

ud

y p

rog

ram

(i)

Eval

uat

e th

e ad

van

ced

theo

reti

cal

fram

ewo

rk o

f

econo

mic

s;

(ii

) C

on

cep

tual

ize

com

ple

x a

nd

unp

redic

tab

le

econo

mic

pro

ble

ms

and

co

nd

uct

an

aly

sis-

eval

uat

ion

-

crea

tio

n-r

epo

rtin

g;

(ii

i) H

ave

hig

hes

t im

ple

men

tati

on

sk

ills

to a

pp

ly

adv

ance

d m

athem

atic

al k

no

wle

dg

e in

the

pro

fess

ional

fie

ld;

(iv

) U

se a

dv

ance

d t

ech

niq

ues

of

soft

war

e pac

kag

es

of

acco

un

tin

g,

fin

ance

and

sta

tist

ics

/ ec

ono

met

rics

and

in

form

atio

n t

ech

no

log

ies

effe

ctiv

ely

, an

d

eval

uat

e an

d d

evel

op t

hes

e te

chn

iques

wh

en

nec

essa

ry;

(v

) H

ave

mo

st e

ffec

tiv

e se

lf-e

xp

ress

ion i

n w

riti

ng

scie

nti

fic

pap

ers

and

ver

bal

ly i

n E

ngli

sh;

(v

i) H

ave

hig

h a

nd

co

mp

lex s

kil

ls i

n c

om

mun

icat

ion

and

so

cial

mat

ters

;

(v

ii)

Hav

e m

ost

dev

eloped

an

d c

reat

ive

lead

ersh

ip

beh

avio

ur

in w

ork

ing

-ind

epen

den

tly

an

d t

akin

g-

resp

on

sibil

ity

;

(v

iii)

Hav

e ab

ilit

y t

o d

evel

op a

nd c

reat

e glo

bal

and

inte

rrog

ativ

e und

erst

andin

g;

(ix

) H

ave

abil

ity

to c

reat

e so

luti

on

s to

co

mp

lex a

nd

unp

red

icta

ble

soci

etal

pro

ble

ms

and

hav

e le

adin

g a

nd

crea

tiv

e at

titu

de

of

acti

ve

citi

zen

ship

;

(x

) H

ave

the

hig

hes

t in

tell

ectu

al v

isio

n;

(x

i) H

ave

inte

rnal

ized

, le

adin

g a

nd

cre

ativ

e

phil

oso

phy

of

life

lon

g l

earn

ing.

10. Complete a project life cycle of a complex and advanced

economic problem individually and interpret findings and develop solution.

2 2 2 2 2 2 2 2 2 2 2

11. Take various highly complex and unpredictable tasks as

team leader, have most advanced skills and competences of the

requirements of working in a team, and design and meet the complex needs in economics in terms of lifelong learning.

2 2 2 2 2 3 3 2 3 3 3

12. Take over full responsibility in the management of advanced professional development of individuals or groups in

the field of economics.

1 1 1 1 1 2 3 3 3 3 3

13.Are open-minded enough to work with others as team

leader and actions with interrogative point of view; socialized

enough to communicate effectively and internalize easily feedbacks of others; appreciate and encourage the diversity in

the society and competent and tolerant enough to do the

presentation effectively in front of the community. Present and comment findings and thoughts in an ethical manner.

1 1 1 1 1 2 3 3 3 3 3

-:No contribution 0 0 0 0 0 0 0 0 0 0 0




Total 13 13 13 13 13 13 13 13 13 13 13



44





Table .12: Matrix of program learning outcomes and BH Qualifications Framework (3rd Cycle)

8.LEVEL (Third Cycle)



Skills


-Practical


-:No contribution (~ very low), 1:Low level contribution, 2:Moderate contribution,


Lev

el

Desc

rip

tors

This person has demonstrated a

systematic

understanding of a field of study and

mastery of the skills

and methods of research associated

with that field.

This person: (i) has demonstrated the ability to design research project and

then, implement the research in

accordance with the methodology of a given science; (ii) has made a scientific

contribution through original research

that extends the frontier of knowledge; (iii) will continue scientific research and

development and be initiators and

implementers of development of knowledge based society, constantly

contributing to development of new

techniques, ideas, or approaches.

Professional competence: This person (i) capable of critical analysis,

evaluation and synthesis of new and

complex ideas; Personal competence: This person (i) can communicate with

their peers, the larger scholarly

community and with society in general about their areas of expertise.


1. Synthesize, evaluate and contribute to theoretical framework of economics with an

interrogative point of view.

3 3 2

2. Keep track of advanced-level scientific studies published in English related to

economics, evaluate and re-apply them with different data and methodology; prepare works such as proceedings, articles, project reports consistent with this level.

3 2 2

3. Demonstrate creative skills having mastery and innovation in order to solve complex

and unpredictable problems in economics consistent with these skills. 2 3 3

4. Take over full responsibility to make decision in highly complex and unpredictable advanced work or study contexts related to economics.

3 3 3

5. Express highly complex economic issues and problems in the means of

mathematics, accounting, statistics and econometrics; and evaluate them with software packages by developing new methodologies.

3 2 2

6.Knowledge at the most advanced level in a subject specific work or study field

(program) to extent or develop the borders of knowledge produced, in this framework

to make it possible for advanced analysis and evaluation of interdisciplinary facts, principles, processes and concepts in other relevant detailed fields.

3 2 2

7.Have the most advanced and specialized skills and techniques, including synthesis

and evaluation, required to solve critical problems in research and/or innovation and to define and extend existing knowledge or practices in a subject specific work or study

field (economics).

2 3 3


45

8.LEVEL (Third Cycle)



Skills


-Practical


-:No contribution (~ very low), 1:Low level contribution, 2:Moderate contribution,


Lev

el

Desc

rip

tors

This person has demonstrated a

systematic

understanding of a field of study and

mastery of the skills

and methods of research associated

with that field.

This person: (i) has demonstrated the ability to design research project and

then, implement the research in

accordance with the methodology of a given science; (ii) has made a scientific

contribution through original research

that extends the frontier of knowledge; (iii) will continue scientific research and

development and be initiators and

implementers of development of knowledge based society, constantly

contributing to development of new

techniques, ideas, or approaches.

Professional competence: This person (i) capable of critical analysis,

evaluation and synthesis of new and

complex ideas; Personal competence: This person (i) can communicate with

their peers, the larger scholarly

community and with society in general about their areas of expertise.

8. Demonstrate substantial authority, innovation, autonomy, scholarly and professional

integrity and sustained commitment to the development of new ideas or processes at

the forefront of work or study contexts including research in a work or study field (economics).

2 3 3

9. Keep track of and report complex global, regional and local economic developments

in a critical and holistic standpoint; evaluate political and social developments in the world.

3 2 3

10. Complete a project life cycle of a complex and advanced economic problem

individually and interpret findings and develop solution. 2 3 3

11. Take various highly complex and unpredictable tasks as team leader, have most advanced skills and competences of the requirements of working in a team, and design

and meet the complex needs in economics in terms of lifelong learning.

2 3 3

12. Take over full responsibility in the management of advanced professional development of individuals or groups in the field of economics.

2 3 3

13.Are open-minded enough to work with others as team leader and actions with

interrogative point of view; socialized enough to communicate effectively and internalize easily feedbacks of others; appreciate and encourage the diversity in the

society and competent and tolerant enough to do the presentation effectively in front of

the community. Present and comment findings and thoughts in an ethical manner.

2 3 3

-:No contribution 0 0 0

1:Low level contribution 0 0 0

2:Moderate contribution 7 4 4

3:High level contribution 6 9 9

Total 13 13 13


46


Courses in second cycle study program in Economics are mainly detailed and narrow field based courses. Master thesis is the most important outcome of

the whole program. Therefore, design of curriculum is intensifying on using methodology and advanced level field courses. The contribution of each unit

course or master thesis to program learning outcomes is depicted in terms of degree of contribution. With the experience since 2011, the curriculum of

the second cycle study program in Economics is evolved gradually to its own direction.

LOs of the Economics study program are met by unit courses satisfactorily. As could be seen from the table below, only generic competences are

supported weakly by unit courses. In order to support these competences IUS has various centers and conference type events.

Table .13: The matrix of learning outcomes and unit courses (3rd Cycle)



Un

it C

ou

rse

s

Req

uir

ed

Co

urs

es

Ap

pli

ed E

con

om

etri

cs

Sem

inar

in A

dv

ance

d E

con

om

ics

Sci

ence

Res

earc

h P

roje

ct

Ph

.D. T

hes

is

Ele

cti

ve

Co

urse

s

Fin

anci

al E

cono

mic

s

Co

rpo

rate

Fin

ance

Top

ics

in I

nte

rnat

ion

al T

rade

Th

eory

Sp

ecia

l T

op

ics

in I

nte

rnat

ion

al

Mac

roec

ono

mic

s

Gra

duat

e S

emin

ar o

n S

elec

ted

Top

ics

Gam

e T

heo

ry

Mon

etar

y T

heo

ry a

nd

Po

licy

Sem

inar

in I

nv

estm

ents

Sem

inar

in S

pec

ial

To

pic

s in

Fin

ance

Th

e H

isto

ry o

f M

anag

emen

t T

ho

ugh

t

Sem

inar

Org

aniz

atio

n T

heo

ry a

nd

Des

ign S

emin

ar

Mic

roec

ono

mic

s

Mac

roec

ono

mic

s

Inte

rnat

ional

Eco

nom

ics

Glo

bal

izat

ion

an

d G

lobal

Gov

ernan

ce

Eco

no

mic

Gro

wth

an

d D

evel

op

men

t

Co

mp

arat

ive

Eco

no

mic

Sy

stem

s

Indu

stri

al E

con

om

ics

Inte

rnat

ional

Fin

anci

al M

ark

ets

Bu

sines

s F

inan

ce


1. Synthesize, evaluate and contribute to theoretical

framework of economics with an interrogative point of view.

3 3 3 3

3 2 3 3 3 2 3 2 2 2 2 3 3 3 2 3 3 3 3 2

2. Keep track of advanced-level scientific studies published

in English related to economics, evaluate and re-apply them

with different data and methodology; prepare works such as

proceedings, articles, project reports consistent with this level.

3 3 3 3

3 2 3 3 3 2 3 2 2 2 2 3 3 3 2 3 3 3 3 2

3. Demonstrate creative skills having mastery and

innovation in order to solve complex and unpredictable problems in economics consistent with these skills.

2 3 3 3

2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

4. Take over full responsibility to make decision in highly

complex and unpredictable advanced work or study

contexts related to economics.

2 3 3 3

2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2


47



Un

it C

ou

rse

s

Req

uir

ed

Co

urs

es

Ap

pli

ed E

con

om

etri

cs

Sem

inar

in A

dv

ance

d E

con

om

ics

Sci

ence

Res

earc

h P

roje

ct

Ph

.D. T

hesi

s

Ele

cti

ve

Co

urse

s

Fin

anci

al E

cono

mic

s

Co

rpo

rate

Fin

ance

Top

ics

in I

nte

rnat

ion

al T

rade

Th

eory

Sp

ecia

l T

op

ics

in I

nte

rnat

ion

al

Mac

roec

ono

mic

s

Gra

duat

e S

emin

ar o

n S

elec

ted

Top

ics

Gam

e T

heo

ry

Mon

etar

y T

heo

ry a

nd

Po

licy

Sem

inar

in I

nv

estm

ents

Sem

inar

in S

peci

al T

opic

s in

Fin

ance

Th

e H

isto

ry o

f M

anag

emen

t T

ho

ugh

t

Sem

inar

Org

aniz

atio

n T

heo

ry a

nd

Des

ign S

emin

ar

Mic

roec

ono

mic

s

Mac

roec

ono

mic

s

Inte

rnat

ional

Eco

nom

ics

Glo

bal

izat

ion

an

d G

lobal

Gov

ernan

ce

Eco

no

mic

Gro

wth

an

d D

evel

op

men

t

Co

mp

arat

ive

Eco

no

mic

Sy

stem

s

Indu

stri

al E

con

om

ics

Inte

rnat

ional

Fin

anci

al M

ark

ets

Bu

sines

s F

inan

ce

5. Express highly complex economic issues and problems in the means of mathematics, accounting, statistics and

econometrics; and evaluate them with software packages

by developing new methodologies.

3 3 3 3

2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

6.Knowledge at the most advanced level in a subject specific work or study field (program) to extent or develop

the borders of knowledge produced, in this framework to

make it possible for advanced analysis and evaluation of

interdisciplinary facts, principles, processes and concepts in

other relevant detailed fields.

3 3 3 3

2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

7.Have the most advanced and specialized skills and techniques, including synthesis and evaluation, required to

solve critical problems in research and/or innovation and to

define and extend existing knowledge or practices in a subject specific work or study field (economics).

3 3 3 3

2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

8. Demonstrate substantial authority, innovation, autonomy, scholarly and professional integrity and sustained

commitment to the development of new ideas or processes

at the forefront of work or study contexts including research in a work or study field (economics).

3 3 3 3

2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

9. Keep track of and report complex global, regional and

local economic developments in a critical and holistic

standpoint; evaluate political and social developments in the world.

2 2 2 2

2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

10. Complete a project life cycle of a complex and

advanced economic problem individually and interpret findings and develop solution.

2 3 3 3

2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2


48



Un

it C

ou

rse

s

Req

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Co

urs

es

Ap

pli

ed E

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om

etri

cs

Sem

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Sci

ence

Res

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.D. T

hesi

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Fin

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Top

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in I

nte

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al T

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Th

eory

Sp

ecia

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op

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in I

nte

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al

Mac

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elec

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Mon

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ry a

nd

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ents

Sem

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in S

peci

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opic

s in

Fin

ance

Th

e H

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f M

anag

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t T

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n T

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s F

inan

ce

11. Take various highly complex and unpredictable tasks as

team leader, have most advanced skills and competences of the requirements of working in a team, and design and meet

the complex needs in economics in terms of lifelong

learning.

1 2 2 3

1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

12. Take over full responsibility in the management of advanced professional development of individuals or

groups in the field of economics.

1 2 2 3

1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

13.Are open-minded enough to work with others as team leader and actions with interrogative point of view;

socialized enough to communicate effectively and

internalize easily feedbacks of others; appreciate and encourage the diversity in the society and competent and

tolerant enough to do the presentation effectively in front of

the community. Present and comment findings and thoughts in an ethical manner.

1 2 2 2

1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

-:No contribution 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

1:Low level contribution 3 0 0 0

3 3 3 3 0 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3

2:Moderate contribution 4 4 4 2

8 10 8 8 4 10 8 10 10 10 10 8 8 8 10 8 8 8 8 10

3:High level contribution 6 9 9 11

2 0 2 2 9 0 2 0 0 0 0 2 2 2 0 2 2 2 2 0

Total 13 13 13 13

13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13 13


49

Curriculum coherence IUS started process of revision of all 12 study programs for first cycle of study in May 2013 and lately in 2017. The

process was facilitated by the Vice-Rector for Academic Activities and Students’ Affairs. The main aims of the revision

were to optimize the programs, make them more interdisciplinary, standardize the program structure and ensure that the

program cores are in accordance with international standards. During the revision process, great importance was given to

further developing of learning outcomes for each study program. The program based learning outcomes were developed

by consulting the national framework of qualification of higher education in B&H, the external framework of

qualification of European Higher Education Areas and external reference points. After the revised study programs were

given positive opinion of the QA Office and the Curriculum Committee, the relevant faculty councils adopted them as

well as the Senate as the final authority.

Workload

The Economics study program satisfies legal requirements related to the workload and ECTS credits, both national and

EU contexts. The first cycle lasts four years which is equivalent to 240 ECTS credits distributed in eight semesters, each

of them enabling students to acquire 30 ECTS. The standard for student workload and ECTS credit is defined in the Law

and equals 25 hours of student engagement. The formula is consistently applied which can be evident from course

syllabus forms9, where courses that are valued e.g. 6 ECTS assume that an average student will spend 150 hours of

work, including lecture/tutorial attendance, practical work, individual learning and/or other forms of workload. In this

way, it is estimated that the total work time of an average student will allow his/her to fully obtain the expected

knowledge, skills and competences in that course, subsequently assigning the ECTS credits after the successful

examination. Student workload in a course in a semester is equally distributed throughout 16 weeks and is evident from

the syllabus design and schedule.

While the calculating the total time that students are supposed to spend for each unit course, surveys, feedback

of academic staff and examples of peer programs are assessed. We noticed that the amount of ECTS per course changes

between 5.5 and 6.4. Then, we discussed in detail the implication of slightly different amounts of ECTS on cornerstone

and capstone courses and on perception of students and teaching staff. After long discussion we decided to assign 6

ECTS to all unit courses.

After taking feedback from all study programs regarding student workload, IUS applies general policy where

each course is valued 6 ECTS credits, with very few exceptions. This approach is used with an aim to allow well

established courses that will cover substantial breadth and depth in any given area, thus enabling better and easier

studying and learning to our students. Lecturers collect feedback directly from students and have the possibility to offer

program chair in order to evaluate with other teaching staff of the department. Special attention is given to factors

hindering the learning process and these are additionally checked through student surveys.

9 See Annex: Course Syllabus sample.


50

Coherence between the learning process organization and curriculum content

Educational process is organized in semesters. Each regular student takes five courses in a semester. Teaching methods

employed in courses include lecturing, tutorials, problem solving, case studies, essays, seminars, projects and class

discussions. The teachers define and select appropriate teaching and assessment methods in line with course objectives,

course learning outcomes and available recourses. Students’ obligations and activities are equally distributed through

semester and on a weekly basis students usually have three hours of lectures and two hours for practice (including

tutorials, problem solving, project and case studies) in a course. Students are assessed continuously through semester

and in all courses there are midterm and final exams and most courses employ quizzes and essays. There are other

assessments used appropriate for particular courses. IUS uses template for courses syllabi that contain information on

student workload, course objectives, course content, learning outcomes, teaching delivery, essential reading and

assessment. All these elements are coherent among them and aligned with study program learning outcomes. Teaching

process is evaluated constantly by students, program coordinator and dean. Recourses available for educational activities

satisfy minimum requirements. Academic and administrative staff resources are at satisfactory level. IUS has on-line

libraries and data bases. However, software for library is planned to be met in a period of two years.

Staff advancement in educational process is organized through staff exchange and demonstrative lectures

among staff. Other forms of advancements are left to individuals, and usually involve conference participation.

Final paper/project (where applicable)

In the final semester of the 1st cycle a student takes a course that involves the submission of a graduation project. During

the bachelor thesis course students are expected to use most of the skills, competences and information they learned

during their study to come out with a research topic upon which they write a report that describes a certain problem and

its solution. They are not expected to design new tools or investigate new phenomena, but rather to map their skills and

information to what already exist. The bachelor thesis course is a course valued 6 ECTS credits where 10 hours a week

student workload is expected to be allocated for the project that include consultation, literature review, experiments in

laboratory if needed and writing the final report. Classes that involve presentations of work, communication skills and

reports writing are designed to prepare students for graduation project class.

Every student is assigned a mentor, and they meet at least once a week where guidance by the mentor is

provided and progress by the student is reported. Many of the graduation projects involve surveys, meetings and field

work. For the assessment of final project paper a committee interviews the student and the final grade is determined

based on the final report, presentation question and answer session.

SWOT analysis

Strengths:

Coherency between educational objectives, program learning outcomes, unit courses learning outcomes,

qualified academic staff, teaching and assessment methods, i.e. current curriculum; and education in English language.


51

Weaknesses:

The academic and intellectual differences between various students may be seen as a weakness.

Opportunities:

The Economics study program has a potential comparative advantage to be one of the most prominent study

programs across the region. Other universities, companies and government institutions are potential stakeholders to

develop certain cooperation programs to share assets mutually.

Threats:

Attraction of the Economics study program and IUS are increasing day after day. Without a balance between

demand of prospective students and the capacity that the program has, would create a risk in terms of education quality

and physical adequacy.

Action plan

Students clubs, Lifelong Learning Center and Leadership and Entrepreneurship Center are planned to develop programs

to upgrade students’ awareness and skills. Collaborations related academic staff and student exchange programs are

planned. In the long term double diploma and joint programs are also on the agenda.


52

Human Resources

Quality of academic staff

Human resources management is dealt with primarily at faculty and university levels. This domain is

regulated by the Law and also IUS Statute and other regulations which clearly define the basic criteria and

the procedure itself. Academic staff members fall into two categories: teachers and assistants. In order to get

academic appointment all the legal and institutional criteria with regard to qualifications and academic/artistic

background must be satisfied and the selection process includes introductory lecture which is evaluated by an

ad-hoc committee. Professional development policy at IUS is regulated through Program of measures for

creation of conditions for promotion of academic staff. This document underlines conditions for promotion of

academic staff into higher academic titles and also lists other measures which allow professional

development of IUS teaching staff. Hiring process, duties and responsibilities, appointments, promotions,

workloads and evaluations of academic staff are regulated by Law, Statute and relevant IUS regulations.

Academic staff appointments are publicly announced and open to all the interested candidates. A

committee checks the applications and attached files, prepares a shortlist and invites candidates to deliver an

introductory lecture for the evaluation purpose. Final decision is brought by Senate voting.

There is a universal workload policy, based on the relevant standards and norms and at IUS teachers

are supposed to teach nine hours a week and to spend the rest of their working time in other activities,

primarily student consultations, research and some administrative duties. Assistants’ workloads are also in

line with the existing standards and norms.

Academic staff members are regularly evaluated by students and institution on a yearly basis. Student

surveys are performed at the end of each semester and the scores given by students are used in institutional

evaluation of academic staff that includes their educational, scientific/artistic and administrative activities.

The evaluation is objective with clearly set criteria, identified areas and values for every activity/output.

These evaluations are part of the internal QA system and are managed by the Rectorate, as defined in the

relevant book of rules.10

Alignment of professional and academic demands a) Written books

10

Also see http://la.ius.edu.ba/procedure-monitoring-and-recording-proper-and-regular-fulfilling-teaching-obligations-

academic-staff and http://la.ius.edu.ba/tr/evaluation-academic-staff-procedures-international-university-sarajevo

http://la.ius.edu.ba/procedure-monitoring-and-recording-proper-and-regular-fulfilling-teaching-obligations-academic-staff

http://la.ius.edu.ba/procedure-monitoring-and-recording-proper-and-regular-fulfilling-teaching-obligations-academic-staff

http://la.ius.edu.ba/tr/evaluation-academic-staff-procedures-international-university-sarajevo


53

Ganić, M., Branković , A. (2016). Bosnian and Herzegovinian’s commercial and economic relations with

Turkey: The status of B&H’s economy and recommendations for the future, Publisher:

International University of Sarajevo, (ISBN 978-9958-896-29-3), Sarajevo.

Aydin, R. (2012), Impact of Toxic Waste Sites on Home Prices: Evidence from Houston Texas, Published by

Lambert Academic Publishing, Germany.

Ganić, M. International Regulation in Banking, March 2012, Publisher: International University of Sarajevo,

(ISBN: 978-9958-896-11-8), Sarajevo.

Bico, A. Capital Investments and Risk Management Case: Legislative Regulation on Minimum Standards of

Risk Management in Commercial Banks in Bosnia and Herzegovina, 1 10/2013; LAP LAMBERT Academic

Publishing (2013-10-09), ISBN: 978-3-659-47570-2

b) Translated/edited books

Aydin, R. and Mehmet Bulut (2011), Economic Political and Cultural Cooperation in Caucasus and Central

Asia, Published by Ankara Center for Thought and Research

b) Book chapters

Ganić, M. The labour market, social (in-) equality, and the role of emigration: The case of Western Balkan

economies West Balkan on the Way to Europe: Selected Economic and Social Issues from Six Countries,

Publisher: Springer Verlag, Heidelberg, Germany, fothcoming

Ganić, M. Is the Economy of Bosnia and Herzegovina Ready to Enter the "Brussels Era", Publisher:

International University of Sarajevo (IUS) Rectorate. Sarajevo, June, 2016. Chapter - Part IV. pp. 124 - 137.

ISBN: 978-9958-896-248. COBISS.BH-ID: 23023622. In a book titled: Bosnia and Herzegovina: Law,

Society and Politics.

Bičo, A. (2016). Economic Aspects of Unemployment in Bosnia and Herzegovina. In Y. Oğurlu and A.

Kulanić. Bosnia and Herzegovina: Law, Society and Politics (pp. 167-178 ISBN: 978-9958-896-248.

COBISS.BH-ID: 23023622. In a book titled: Bosnia and Herzegovina: Law, Society and Politics.

Ganić, M. The Integration of Western Balkan economies in Global Economic Flows. In Mehmet Bulut (Ed.)

Resilkroad. IZU and ADAM: Istanbul, 2014.

Ridic, Goran Co-author (2016). chapter Part XI. o “Bosnia and Herzegovina Health Care Report” in a book o

“Bosnia and Herzegovina, Law, Society and Politics”. o ISBN: 978-9958-896-24-8, o COBISS.BH-ID 230

23 622. pp. 323 - 337. o International University of Sarajevo (IUS).

Ridic, Goran Co-author (2016). “Financial Aspects of Tumor Immunology” in book by Academician, Prof.

Dr. Jasenko Karamehić, M.D. titled “Tumor Immunology” o Max Media d.o.o. Sarajevo, B&H. o ISBN 978-

9926-8092-0-1. o COBISS.BH-ID 23064838. pp. 339 – 363.

c) Conference Proceeding

M. Ganić, On the Way towards Knowledge Based Economy: Where is Western Balkan Region?”, Second

Sarajevo International Conference by , International University of Sarajevo (IUS), Faculty of Business

Administration (FBA), Sarajevo, vol. vol. 2, 2 vol. . International University of Sarajevo , Sarajevo, B&H,

2016.

Ganić, M. Dimensions of economic development and the challenges of post-conflict transition: Evidence

from the Western Balkan - paper presented at the 25. GENERAL CONFERENCE of International Peace

Research Association - IPRA on Uniting for Peace: BuIldIng Sustainable Peace Through Universal Values,

August 10-15 2014, Istanbul, Turkey.

https://econ.ius.edu.ba/publications?f%5Bauthor%5D=76

https://econ.ius.edu.ba/publication/way-towards-knowledge-based-economy-where-western-balkan-region


54

Ganić, M. Sarajčić, S. and Omerhodžić, S. Lessons from Transitional Economies’ Failures: Why is B&H a

Transitional (Non) Success Story? - paper presented at the First Sarajevo International Conference on "Global

Crisis and Countries in Transition” June 19-22, 2014, International University of Sarajevo, pp. 9-22.

Ganić, M. The Effects of Foreign Direct investment Flows in Developing Process of Countries of Western

Balkan - paper presented at the The 5th International Summit of Istanbul Economists - New Turkey’s

Economic Vision In The Process of Global and Regional Change, 31 October -01 November 2013, Istanbul –

Turkey.

Ganić, M. The Integration of Western Balkan economies in Global Economic Flows- paper presented at the

INTERNATIONAL SILKROAD CONGRESS and ACTR CONFERENCE, October 27-29, 2013 – Istanbul,

Turkey

Ganić, M. Economic Disturbances and Business Fluctuations In Economy Of Bosnia And Herzegovina – The

Ongoing Story, EuroTecS 2013 European Conference of Technology and Society, June 27-28, 2013.

Sarajevo.

Ganić, M. Effects of Establishing a Central Regippy of Credits and Explicit Deposit Insurance in B&H on

Certain Trends in the Domestic Banking, paper presented at the The 4th International Summit of Istanbul

Economists - NEW IDEAS, NEW PRODUCTS AND PROPERTY RIGHTS IN COMPETITIVE

ECONOMY, October 08-10, (2012). Istanbul, Turkey.

Ganić, M. The Transmission of European Debt Crisis on the Region of Western Balkans: Some Stylized

Facts, Electronic International Interdisciplinary Conference 2012, September 3 – 7, 2012, Institution of the

University of Zilina, Slovak Republic.

Bičo, A., Bajram, N. (2012) Economic Policies for Business: Case of Bosnia and Herzegovina. 5th

International scientific-technical conference Business Development 2012: Economic policy & business of

small and medium enterprises., Zenica, BIH; 11/2012

Bičo, A., Bajram, N. (2013) Strategies for Curbing Unemployment in Bosnia and Herzegovina: Lessons

from Ireland and Netherlands. International Conference on Economic and Social Studies (ICEoS13):

"Economic Crises and European Union", Sarajevo, BIH; 05/2013

Bajram, N., Bičo, A. (2013) The Effect of Monetary Policy and the Timing of Interest Rate Movement.

European Conference in Technology and Society , EuroTecS-2013, International University of Sarajevo,

BIH; 06/2013, ISSN 2304 – 4580

Bajram, N., Bičo, A. (2013) The Gravity Model and Bosnia and Herzegovina’s Trade. European Conference

in Technology and Society , EuroTecS-2013, International University of Sarajevo, BIH; 06/2013 ISSN 2304

– 458.

Bičo, A., Opačin, N. (2014) Gender (in)equality in Political Participation in Bosnia and Herzegovina.

International Conference on Economic and Social Studies (ICEoS14) , Sarajevo, BIH; 05/2014

Ganić, M. The Banking of Western Balkan in View of the Latest Financial Crises, paper presented at the

Heritage of History: Solutions to Political and Social Issues in Southeast Europe at the Balkan Wars'

Centenary, 11-13 May 2012, Istanbul, Turkey.

Ganić, M. The investment fund industry in Federation of B&H, International Conference – Business

development in 2011, paper presented at the University of Zenica, November 12, 2011. Zenica- Bosnia

&Herzegovina

Ganić, M. Current problems and issues affecting the development of Capital market in Bosnia and

Herzegovina – Retrospective and Real opportunities, paper presented at the The 3rd International Summit of

Istanbul Economists, Entrepreneurship Innovation & Economic development, October 10-12, 2011, Istanbul,

Turkey.

http://www.ius.edu.ba:8080/eurotecs/

https://www.researchgate.net/publication/236668143_Economic_Policies_for_Business_Case_of_Bosnia_and_Herzegovina


55

Ganić, M. Institutional aspects of prudential supervision of banks in Bosnia and Herzegovina with special

emphasis on banking risk management, paper presented at the IX. INTERNATIONAL CONGRESS ON

KNOWLEDGE, ECONOMY & MANAGEMENT, June 23-25, 2011.

d) Refereed journal articles

Ganić, M., Dizdarevic, A. and Mamuti, A. (2017). Assessing a Currency Substitution Persistency in the

Western Balkan Region, Economic Analysis (Vol. 50, No. 3-4, 43-54). Indexed in ERIH PLUS, EBSCO and

REPEC.

Ömer Esen, Celil Aydin and Recai Aydin (2016). "Inflation Threshold Effect on Economic Growth in

Turkey." Journal of Advanced Research in Law and Economics [Online], 7.8: 1983-1993. Web. 6 Dec. 2017

Ganić, M.,Mamuti, A. (2016). Development , Trends and Features of Financial Integration in the Western

Balkan region – Cross Country Comparisons, Uluslararası Yönetim İktisat ve İşletme Dergisi, Int. Journal of

Management Economics and Business ICAFR 16 Özel Sayısı Int. Journal of Management Economics and

Business, ICAFR 16 Special Issue. Indexed in: TÜBİTAK-ULAKBİM, EBSCO, Index Copernicus, DOAJ

and others.

Mamuti, A., Ganić, M. (2016). The Effect of FDI on the GDP of Macedonia, Uluslararası Yönetim İktisat ve

İşletme Dergisi, ICAFR 16 Özel Sayısı Int. Journal of Management Economics and Business, ICAFR 16

Special Issue. Indexed in: TÜBİTAK-ULAKBİM, EBSCO, Index Copernicus, DOAJ and others.

Ganić, M., Ismić, B. Sarajčić Sahrudin, Does Financial Deepening spur the Economic growth? Evidence

from Bosnia and Herzegovina, Journal of Economic Cooperation and Development, Vol. 37, No. 1, 2016.

Bičo, A. (2016) Gender Segregation in Employment in Bosnian and Herzegovinian Labor Market. South East

Journal of Soft Computing, 5 (2).ISSN 2233-1859.

Recai Aydin and Mehmet Ali Tekiner (Winter 2015). “Analysis of Relationship Between Favoritism and

Officer Motivation: Evidence From Turkish Police Force”, Inquiry, Sarajevo Journal of Social Sciences, 1

(2), 75-97.

Recai Aydin and Mehmet Ali Tekiner (2016). “Analysis of Burnout Level of Police Officers: Evidence from

Malatya, Turkey”, Epiphany, 9 (1), 99-113.

İbrahim Dursun, Recai Aydın and Hasan Hüseyin Tekin (2016). “Üniversite Öğrencilerinin Şehir ve

Güvenlik Algısı: Ankara Örneği”, Güvenlik Çalışmaları Dergisi, 18 (2), 37-58.

Aktaruzzaman, K. “Religiosity and the perception about compatibility of democracy with Islam: Evidence

from the Arab World” (with Omar Farooq), International Journal of Public Opinion Research, 2017,

(Forthcoming).

Vjekoslav Domljan, Goran Riđić, Ognjen Riđić (2017). FROM DEFECTIVE TO EFFECTIVE BIH

DEVELOPMENT POLICY 2017 Acta Economica, Banja Luka 2017 EBSCO/COBISS

Aktaruzzaman, K. “Informational role of ownership concentration: Evidence from the Casablanca Stock

Exchange” (with Omar Farooq), Journal of Islamic Accounting and Business Research 2017, (Forthcoming).

Aktaruzzaman, K. “Does Microcredit Increase Borrowers’ Savings? A Fuzzy Regression Discontinuity

Design Approach” (with Omar Farooq), International Review of Applied Economics, 2016, DOI:

10.1080/02692171.2016.1263607.

Aktaruzzaman, K. “Impact of Microcredit on Borrowers’ Expenditures: A Fuzzy Regression Discontinuity

Design Approach” (with Omar Farooq), Applied Economics, 2016, DOI: 10.1080/00036846.2016.1142662.

Aktaruzzaman, K. “Does Stock Price Synchronicity Effect Information Content of Reported Earnings?

Evidence from the MENA Region” (with Omar Farooq), Risk Governance and Control: Financial Markets &

Institutions, 2016, Volume 6, Issue 3, pp.43-49

Ganić, M.Ismić, B and Ridjic, O. (2014). “What drives the profitability of the banking sector? An Empirical

evidence from Bosnia &Herzegovina”, The Romanian Economic Journal,

http://uvt.ulakbim.gov.tr/sbvt/

http://uvt.ulakbim.gov.tr/sbvt/


56

Ganić, M. An Empirical Study on Liquidity risk and its determinants in Bosnia and Herzegovina, The

Romanian Economic Journal, ISSN (print) 1454-4296, ISSN (online) 2286-2056 Indexed in: Ulrich’s

Periodicals Director, EconLit Cabell's , Repec; EBSCO, Index Copernicus Journal Master List, Open JGate,

Open Access Journals, DOAJ and others. Issue 52 (Year XVII) October 2014.

Ganić, M. Bank Specific Determinants of Credit Risk - An Empirical Study on the Banking Sector of Bosnia

and Herzegovina, International Journal of Economic Practices and Theories (IJEPT) ISSN: 2247 – 7225

(online), Vol 4, No 4 (2014), Indexed in RePEC, Cabell's, EBSCO, Index Copernicus, OCLC, BASE, Google

Scholar and others. (Top Ten SSRN downloads, October 2014)

Ridic, O., Plojovic, Semsudin, Busatlic, Senad, Ridic, Goran. “AGING OF THE POPULATION AND ITS

INFLUENCE TO THE AGGREGATE HEALTH CARE COST IN THE USA” UNITE - University Journal

of Information Technology and Economics, vol. 1 (2), pp. 34-37. (2014)

Ashraf, J. and Recai Aydin. "The Impact of Race on Faculty Salaries." Business and Economic Review,

(Forthcoming).

Aydin, R. and Bilall Kasami (2012). "Economic Relations Between Turkey and Balkan Countries", Chapter

in Turkish-Albanian-Macedonian Relations; Past, Present and Future (Edited by Mehmet Bulut and Mesut

Idriz), 267-284."

Ganic, M. “The EU debt crisis: A Reflection on financial sector of the Western Balkans”, Journal of

Business, Economics and Finance, ISSN:2164-7943, Volume 2, Issue 1, 2013. Indexed and Abstracted in:

Cabell’s Directory (Economics & Finance), Open J-Gate, NewJour, ASOS Index COPERNICUS, EBSCO,

ECONLIT.

Ganic, M. “The Impact the Global financial crisis on the banking sector of Western Balkans: Cross-country

Comparison Analysis”, Journal of Economic and Social Studies, ISSN 1986- 8499 (print), 1986-8502 (online

Vol. 2, No. 2 (July2012). Indexed and Abstracted in: ECONLIT, EBSCO, ProQuest, INDEX COPERNICUS,

ASOS Index.

Ganic, M. “The Efficiency of Banking Sector in Bosnia and Herzegovina in Comparison to Slovenia:

Comparative Analysis”, Journal of Economic and Social Studies, ISSN 1986- 8499 (print), 1986-8502

(online), Vol. 2, No. 2 (July 2012). Indexed and Abstracted in: ECONLIT, EBSCO, ProQuest, INDEX

COPERNICUS, ASOS Index. (with Azra Bićo).

Ganic, M. “Perspectives of Application of Currency Board Arrangement with Special Emphasis on Bosnia

and Herzegovina”, International Journal of Business and Social Science, ISSN 2219-1933 (Print), 2219-6021

(Online), Vol. 3 No. 4 (Special Issue - February 2012), USA. Indexed in: EBSCO, Index Copernicus,

ProQuest, JournalSeek, Directory of Open Access Journals (DOAJ), Cabell Publishing, Ulrichsweb™

e) Projects

List of externally funded projects in which study program staff participated (from 2016 till present):

1. Recai Aydin

2. Mehmed Ganic

3. Goran Ridjic

4. Khondker Aktaruzzaman

5. Azra Bico

6. Seyma Aydin.

http://www.rejournal.eu/article/empirical-study-liquidity-risk-and-its-determinants-bosnia-and-herzegovina

http://www.rejournal.eu/issue/issue-52-year-xvii-october-2014

http://www.ijept.org/index.php/ijept/issue/view/13

http://www.aeaweb.org/econlit/journal_list.php#J


http://www.ebscohost.com/titleLists/bth-journals.pdf

http://journals.indexcopernicus.com/karta.php?action=masterlist&id=6317

http://asosindex.com/journal-view?id=135


http://www.ebscohost.com/titleLists/bth-journals.pdf



http://asosindex.com/journal-view?id=135


57

d) Projects

The project of Ministry of Finance Canton Sarajevo, Development of Capital market in Federation of

B&H: the possibility of a new bond issue by cantons, Ganic, M, December-January, 2016.

The project of Federal Ministry of Finance- Ethics Code of Conduct for the Federal Ministry of

Finance financed by USAID / Ganic, M, the main consultant, August - September, 2015.

Business incubation in the Northeast B&H, Independent Development Bureau-NBR, European

union, Municipality Tuzla, Brčko Distrikt, 2013. Ganic, M, Consultant

Internal and external barriers to the development of production of small and medium-sized

enterprises (SMEs) in B&H, research project funding by Ministry of science and education B&H,

2012. Position: Ganic, M, Project researcher

2009-2012, European Commission, Project title: “National Bologna Experts Team”, Turkey

Jan.-December 2014, European Commission, Project Title: “Referencing TQF to EQF”

Dec 2013 – Dec 2015, Funding institution: Council of Europe, Project title: “Regional Support to

Inclusive Education in the Western Balkans”

May 2013 – Jan 2014 Funding institution: European Fund for the Balkans, Think and Link

Program, Project title: “Analysis of capacities for monitoring migration in Bosnia-Herzegovina”

July 2013 – Jan 2016 Funding institution: US Government Special Fund, Project title: “Building

Bridges through Increased Economic Understanding”

Jun 2013 – Nov 2013 Funding institution: Council of Europe, Project title: “Analysis of Wider

Benefits of Investments in Cultural Heritage in the Western Balkans”

Jan 2013 – Jun 2015 Funding institution: Delegation of EU in BiH, Project title: “Positioning

Level 5 qualifications in BiH”

Nov 2012 – Mar 2013 Funding institution: European Training Foundation, Project title: “Mapping

of VET educational policies and practices for social inclusion and social cohesion in the Western

Balkans, Turkey and Israel”

Jul 2012 – Jun 2013 Funding institution: University of Fribourg, RRPP Western Balkans,

Project title: “To Consume or to Self-Employ? Evidence from Remittances' Use in Macedonia,

Bosnia and Herzegovina and Kosovo, with Emphasis on Crisis, Gender and Ethnicity Role”

Jan 2012 – Apr 2013 Funding institution: University of Fribourg, RRPP Western Balkans,

Project title: “Linking Rural Entrepreneurs and Diaspora in Albania and Bosnia-Herzegovina”

Oct 2010 – Sep 2012 Funding institution: European Commission, DG Employment, Social

Affairs and Equal Opportunities, Project title: “Analysis of the Impact of Emigration and Rural-

Urban Migration on Social Inclusion in Central and Eastern Europe”

Number of academic staff

Table .14: Numbers and ratios of staff and students in academic 2017/18

Number of students Number of academic staff

members Ratio

I cycle 44

4

11

II cycle 4 1

III cycle 5 1.25


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Employment at IUS is regulated in details and monitored. Academic staff needs are regularly

analyzed at SP level and information is forwarded to Faculty Council, Senate and finally to the Board of

Trusties for final review and approval. All the requests for new staff must be elaborated and justified either

by current situation or near future prospects. Academic staff can be employed only through a public call and

duly completed procedure, paying special attention to the quality, experience and scientific/artistic profile of

the applicants. Given the fact that academic staff members usually must respond to very specific and narrow

demands, this process can be lengthy and even result in not finding the proper candidate. An alternative

hiring system is anticipated in these exceptional cases. All the academic staff members are employed for a

limited time and this is regulated with their academic/artistic appointments. The only exception to this rule is

full professor who can be employed indefinitely.

SWOT analysis

Strengths:

Experienced professors and assistant, with a relatively good match between their field of

specialization and courses held.

Weaknesses:

Relatively low publication record. Relatively low level of engagement in research.

Opportunities:

Good networking at the international level

Threats:

Unstable administrative structure of Bosnia and Herzegovina and security concerns may discourage

international academic staff.

Action plan

Introduce incentives for publications and research.


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Students

IUS attends 1752 students (check) and this number is gradually growing. The Economics study program

counts around 53 students (check) , and the number of new applicants is constantly growing. IUS truly

justifies its international character because students who choose IUS come from all over the world. In the past

academic year at IUS have studied students from 25 different countries (Algeria, Azerbaijan, China,

Germany, Kosovo, Kyrgyzstan, Libya, Macedonia, Egypt, Jordan, Malaysia, Mongolia, Moldova,

Montenegro, Mozambique, Pakistan, Palestine, Romania, Serbia, Syria, Slovenia, Tajikistan, Turkey, USA),

where 27% of the students from Bosnia and Herzegovina and 73% from abroad.

Students’ assessment

Student assessment at IUS is regulated by the Book of Rules on the Procedure for Assessment of IUS Student

(SAP)11

(No. IUS-SENAT 11-823/11). This procedure defines the process of student assessment as well as an

appeal process. Students are awarded ECTS Credits upon successful completion of each course. Assessment

is a continuous process and includes, but is not limited to, written exams, oral exams, practical work, seminar

papers, tests, projects, colloquiums, performance and portfolios. Assessment method for each course is

announced at the beginning of the semester and the evaluation and the weight of each method is clarified for

students in the course syllabus. The grading scale for each course is in accordance to the law, and is as

follows:

Grades Points Description

A 10 100-95 remarkable success without error or with negligible errors

B 9 94-85 above average, with few mistakes

C 8 84-75 average, with noticeable mistakes

D 7 74-65 generally good achievement, with significant imperfections

E 6 64-55 meets the minimum criteria

F, FX 5 <55 does not meet the minimum criteria

It is prescribed in SAP that student assessment is continuous during a semester (Article I); teaching

staff are keeping records on students’ activities (Article IV) and motivating them for continuous work and

learning. Assessment methods are appropriate for each subject and are devised by teaching staff (Article V),

while minimum points (as a measure of student’s advancement, acquired skills and competences) for each

subject are universal and evident from the table above. This table also represents pass threshold and grading

scale in use at IUS. All these elements are presented in course syllabus, issued and revised each year, so all

the students are properly informed about the grading/evaluation process and the information available all the

time.

11




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Examination schedules are announced on-line, in the academic calendar available on IUS’s website,

on faculty notice boards, and they contain all the necessary information.

Apart from this, assessments and evaluations during each semester are commented upon and

analyzed subsequently. There is also an appeal procedure in place. Assessment procedures in general are

organized in a way to provide for maximum impartiality and objectivity, fairness, transparency and

consistency.

A set of rules and procedures are defined for plagiarism and cheating during exams where

disciplinary actions would be taken in case of misbehavior.

Senate Decision regarding grading

Practical training

Most of the courses include some form of practical work, which may involve projects, essays, reports and

presentations. Almost all academic courses require students to do written assignments and projects. Essays

and reports are assigned to students to develop their own writing skills and to be able to do research

independently. Aim of the project is to trough the research enables students to gain skills and knowledge

about how the theoretical aspect taught in class looks in the practice.


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Conditions for admission of students to the study program The requirements for admission to the first cycle of IUS study programs are:

1. Successful completion of 4 years Bosnian high school or its equivalent from abroad

2. English Language proficiency that is to be demonstrated by

a. Provision of internationally acceptable certificates (e.g. TOEFL, IELTS), or

b. The successful completion of proficiency exam.

Students are ranked on the basis of the high school grades and all the conditions, fees, needed

documents and other relevant information are made clear and transparent in a public call. At Economics SP,

available human and physical resources are analyzed and proposals for enrollment quotas are sent to the

Faculty Council and forwarded to the Senate who defines the final quotas for the entire University. The

Committee that checks the applications and documents is established at University level and after the

submission period, all the applicants are informed of the status of their application. IUS has the option to

implement entrance exam for the enrollment for all the students. The policy is not to introduce it yet in

general, and students coming from Turkey are advised to take national qualification exam. IUS policy is to

attract good students, so in order to increase the quality of students enrolled, large number of scholarship

(tuition fees) are provided and the criterion for receiving these scholarships is an entrance exam, where

general knowledge, language and math skills are the key parameters assessed. Once the student receives a

scholarship, there is a criterion to keep or increase that scholarship and it is the student’s success during her

studies. There is also enrollment by transfer that students who studied earlier at other HEIs use as a tool for

both enrollment but also recognition of prior learning and knowledge.

Studies in the first cycle are organized in a way to allow transition to faculty level. Common

university courses (in the first study year) serve to accustom students to a new environment and to raise the

level of education to the level that will enable successful studying in the respective faculties and SPs. There

are few non-credit courses that provide additional skills to IUS students and ease the intercultural

communication among various international and Bosnian students.

Students’ involvement in the teaching/learning process improvement

Students are involved in the decision making process through students’ bodies, their representatives in the

university management structures and via regular surveys and feedbacks that possible always. Students are

full and equal members of:

1. Senate

2. Faculty council

3. Quality Assurance Office

4. Quality assurance teams


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5. Other related faculty, program level committees and student clubs.

Students are primarily organized in their independent organization – Student Parliament of IUS

(SPIUS) and representatives of all study programs and cycles participate in SPIUS Assembly. All students

participate in SPIUS representatives elections.

Students’ participation in teaching/learning improvement has been formalized through IUS

regulations that define students’ roles in regular analyses/evaluations of teachers, courses and resources, but

also in the process of design of a new SP. The student survey at the end of every semester is a major point in

the evaluation of the teaching process and the teachers involved in it. The surveys are done on-line,

absolutely anonymous and do provide valid feedback for analyses. The surveys are processed by QA Office,

with IT Dep. assistance. The results are delivered to the staff, management and in a limited way to students.

The Book of Rules on Proposing, Adopting and Monitoring Study Programs at IUS defines that in defining

any new SP proposal, students must be consulted thereof. A student representative is also a member of the

committee performing this self-evaluation, and students are also members of other self-evaluation committees

at different levels.

Measures for Promoting mobility of students and mutual recognition of ECTS credits

IUS signed more than 80 agreements on cooperation with HEIs in BH and abroad. These agreements assume

mobility and there is institutional framework that allows student mobility and recognition of study period

spent abroad. Use of ECTS system at IUS makes the mobility easily recognizable, for both outgoing and

incoming students. IUS also supports and encourages its academic staff to visit and spend time in other

higher education or research institutions. In case of such a mobility/absence, academic staff members are paid

as usual.

IUS joined Mevlana Exchange Program in August 2013. The Mevlana program aims at the exchange

of students and academic staff between the Turkish higher education institutions and higher education

institutions of other countries. Among the previously mentioned number of signed cooperation agreements,

more than 30 of them are signed within the Mevlana Exchange Program. A number of IUS students and

professors have already used this program for their mobility and in case of students, documents almost

identical to the European ECTS mobility documents are used, obliging sending institution to recognize the

specific courses once the student is returned. The courses are to be recognized only if successfully passed.

Student mobility can last between one semester and one academic year. Teachers’ mobility is of shorter

duration and assumes teaching duties, but also other networking activities.


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IUS students can participate under Action 2 and 3 of the Erasmus Mundus Program. IUS is not a

direct partner in any of these projects, but our students, BH citizens, can still participate through the several

projects in which BH universities are partners under target groups 2 and 3.

Student coaching

Every study program has a program coordinator; some have assistant of coordinator, and all freshmen

students have advisors who can be reached easily for various types of consultations (academic, administrative

and social advices are provided).

Side to side with programs and advisors, two bodies are available for students help (Student

Consultation Center and Student Affairs Office). Both bodies work on making students’ life and study period

as easy as possible.

All academic staffs are required to have consultation hours for their students, and they are required to

allocate time for students’ inquiries and help. There is a formal requirement that academic staff must be

available for at least 10 hours a week for consultations with students and this norm is observed. Consultation

hours are usually scheduled after the lectures making them aligned to students’ needs. Reasonable amounts of

academic staff’s workloads include the work with students for coaching. Students can report and evaluate the

consultation level through the student survey and student center. In the recent student surveys, students

expressed their agreement with the statement “I have been able to contact the lecturer during specified

consultation hours.” in the upper quarter of possible replies signifying that they mostly agree with it. This is

not surprise knowing that working regulations at IUS, unlike many HEIs in BH, require academic staff to

spend full working time on campus. All academic staff members use modern electronic communication tools

and students have the opportunity to get in touch with staff in this way too.

Apart from verbal announcements and official boards, IUS website and student information system

are key tools for informing students about important information. A load of other details about events,

classes, lectures and important deadlines is available in this electronic system.

System of information and complaints

There are three major channels of communicating with and informing students, direct verbal information,

web site and official student information system. All the popular communication tools, including e-mails,

social networks and mobile technologies are used as well.

IUS publishes Student Guide in three languages (Bosnian, English and Turkish) every year. More

than 2000 copies of printed Student Guide are distributed annually in B&H and abroad. The Student Guide is

also published on IUS website. The guide provides accurate, impartial and objective information about the


64

university, study programs and student life at IUS, and is intended primarily for high school students and

graduates.

Student can access the information they need from various channels; this depends on the type of

information:

Administrative: In every faculty there is a legal advisor and there is Legal Department at the

university level that works closely with Student Center, all can be reached for all administrative

and legal issues, regulations and information

Academic: All program documents and relevant program issues can be found on the program

website – and can be reached through student center, program coordinators, advisors and/or

Student Affairs Office.

At the beginning of every academic year, an orientation week is organized where newcomers meet all

IUS relevant staff (starting from rector, deans, program coordinators, librarian, Students Affairs Office

personnel, Student Center staff, Public Relations Office members, International Relation Office

members…etc). There are few offices at IUS that take care of new students and provide necessary assistance

and guidance. Apart from these institutional mechanisms, students themselves organized, under the

supervision of IUS offices, peer support and guidance in the first semester. Student center together with IR

Office is also responsible for exchange students, providing orientation session and finding peers for peer

support. Financial support is also available under very clear conditions.

Student Parliament and students clubs as well provide much information needed on various

opportunities for learning, tutoring, work, internship, student exchange, etc. Social and Cultural Activities

and Health Office (SACHS) and student clubs support extra-curricular needs and activities in an organized

and systematic manner, securing sport facilities in campus and elsewhere, and other support as requested and

deemed appropriate, including financial one.

Complaint system has two tracks, formal one and informal. Informal complaints are advised for

minor issues that can be dealt with easily and/or personally. However, formal complaints system is

established and Student Center is receiving all the students’ complaints and appeals, making them officially

recorded and properly addressed, depending on the nature of the complaint/appeal. There is a system of

dealing with all the complaints and students are familiar where and when their submissions are sent. Usually,

there is no need for student’s involvement once the complaint has been submitted to Student Center, and a

student is informed of the status of his/her submission in a timely manner.


65

SWOT analysis

Strengths:

Innovative and challenging undergraduate and graduate curriculum, multinational students and

academic staff

Weaknesses:

Lack of joint degrees and double diploma programs

Opportunities:

Establishing joint degrees with other institutions.

Threats:

Likely pressure from constantly increasing number of students may force decision makers to increase

the number of students.

Action plan IUS is planning to develop joint degree and double diploma programs. However, the discussion and

consultation on this issue is still ongoing one.


66

Physical Resources

Material aspects

There is 20.508 m2 of premises at IUS campus. IUS optimizes and utilizes all the general facilities

and space for all the programs. These include:

1. Classrooms

There are more than 90 various size class rooms with projector and white board in every room.

Special multimedia rooms with speakers and sound effects are available as well. Two design studios and one

CNC laboratory are available, as well as one video hall.

2. Computer laboratories

Three computer laboratories with 25 computers each and internet access are available for the classes

and students use. If no classes are being taught in these laboratories, students can use them.

3. Amphitheaters

Three amphitheaters are available for large classes and for public speeches and conferences. One

amphitheater is equipped with cabins for simultaneous translation and other multimedia support.

4. Sport facilities

One multi-purpose outdoor play ground and one multi-purpose indoor sport hall are available for

students use.

5. Technical laboratories

For technical study programs there are specialized laboratories that serve their needs for practical

sessions. There are also studios for artistic and media courses. …

6. Library

The library is open from 8:30 till 17:00 to all students. There is also a reading room so the students

can borrow the books they need for their classes.

7. Print and copy center

A copy center is available for students and they can benefit from its services for a reasonable fee, for

printing their work and assignment and any other services provided.

8. Dormitories


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Two large dormitories with canteens are available; one is for male students and one for female

students. Students can choose to stay in the dormitories if they wish for a very reasonable fee.

9. Restaurant

There is a large restaurant that satisfies all the students and staff needs at IUS. A couple of coffee

stands are installed in order to serve the students and staff during the breaks.

10. Offices

There is plenty of space for academic staff of a study program and in general they are located in one

floor. The policy is that program coordinators and other PhD holders have their own offices, while assistants

and senior assistants share offices. In special cases PhD holders share offices too.

11. Meeting room and kitchen

Every floor of IUS building has a meeting room and a kitchen where staff can help themselves.

12. Internet

All staff and students are provided with IUS official email and free internet access within the campus

and in the dormitories. Both wired and wireless internet access are available.

13. Research

A research center is available for applied research activities, and a yearly amount of money is

allocated for staff participation in various conferences and research activities. IUS transportation cars are

used for industrial visits and local research activities.

14. Communication

IUS is located in a new campus and all the latest communication technology is introduced. Modern

and flexible IT Network and Communication System professional core network equipment includes servers,

switches, firewall, routers, Cisco VoIP Phone System and high bandwidth (100Mps) permanent Internet

connection with wireless Internet access. Interconnection within the IUS Campus has been done by high

performance optical and Cat 7 UTP/FTP cables. Among the other technical equipment, within the Campus

there are 350 Client Computers, 70 Network and Desktop Printers and over 135 Cisco VoIP Phones.

All the resources are available to all students and staff members. The use of available resources is

managed by different individuals in order to prevent possible clashes and rearrangements. There is also

technical and support service responsible for maintenance and proper running of all the equipment.


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Table V.15: Resources and infrastructure

SWOT analysis

Strengths:

Available and new physical resources. Good computer labs.

Weaknesses:

Insufficient library resources.


69

Opportunities:

More effective use of available space by e.g. offering new trainings formal diploma and nonformal

certificate programs, and joint degrees etc.

Threats:

Opening more diploma or certificate programs may endanger the engagement of academic staff in the

current education and research activities.

Action plan

1. Our University has a plan to open new departments depending on the need analysis of labor market. By

doing this better utilization of the space would be possible.

2. Check and balance mechanism is planned to be improved to keep growing trend of the University and

individual programs under control.

3. New incentives have been introduced to academic staffs to publish high quality articles and other scientific

works.

4. Advancement in library sources is planned to be on the University agenda. Not only planned hard copy of

publications but electronic copies have also been planned to be bought for the library.


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Internal Quality Assurance

Evaluation results and measures for study program improvements

Internal QA system at IUS is developed from the University to faculty level, based on QA Policy and QA procedures.12

There is a 5-member QA team at faculty level made of the major stakeholders’ representatives, i.e. academic and

administrative staff, students, public and private sectors representatives in the labor market, students and alumni. A part

of the internal QA system is this self evaluation report (SER) which is done by self-evaluation team appointed for this

particular purpose. The team is also made of the main stakeholders’ representatives in order to assure the balanced and

objective evaluation. Clear instructions and guidance are given by QA Office. IUS evaluates its study programs annually

and the most recent advancement introduced was new methodology that requires from SP self-evaluation teams to

prepare the reports in accordance with the Criteria for Accreditation of SPs in BH and recommendations and working

materials created during the piloting phase of a project that produced them.

Systematic measures for monitoring the academic activities include regular student surveys at the end of a

semester, where students evaluate teachers and assistants, the course and also other services (e.g. library and SAO). The

results from these surveys are analyzed, discussed and serve as the basis for future activities at course level, but also are

analyzed at SP, faculty and university levels. This way, any identified deficiency can be properly tackled and resolved

by the most competent agents. The results of these surveys are used in a broader academic staff evaluation system which

is also done annually and apart from academic performance includes scientific and administrative contribution by

academicians. There is also a system of monitoring the fulfillment of teaching duties of the academic staff. Another

regular tool used is analysis of students’ pass rates after each exam period. The analysis results are also analyzed from

the course to university level and appropriate measures and actions are suggested and undertaken when necessary.

The established QA structures, procedures and practices enable collection of objective data that are used for

analyses resulting in feasible measures for improvements. Conclusions from the previous SER were discussed during

this round of self-evaluation too. After this SER is acknowledged by IUS management, a detailed action plan will be

created, including allocation of resources, responsibilities and timeframe. An example of the most recent measures was

refining and redefining learning outcomes for the 1st study cycle. Depending on the action plan, new courses, staff

members and literature items may be on the agenda.

Involvement of co-workers/colleagues, students, graduated students (alumni) and

labor market/professional associations in work of QA teams/committees/evaluation

panels as well as in work of introducing innovations of curriculum

The existing QA structures at IUS are QA Office with two employees and three student representatives from

all the three cycles as volunteers and QA Teams at faculty level with five members, namely management

representative, teacher representative, assistant representative, administrative staff representative and a

12

http://qa.ius.edu.ba/qa-office/regulation-quality-assurance-ius

http://qa.ius.edu.ba/qa-office/regulation-quality-assurance-ius


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student representative. Self-evaluations, both at university and SP level are done by appointed committees

and student representatives are on all these committees.

All the analyses are discussed at Faculty Council and Senate sessions and students are also full

members in these. Alumni association at IUS is created at university level and all the accessible alumni are

approached in reasonable manner providing valuable input for improvements and innovations in the existing

practices and curricula. Representatives of the labor market and professional associations are approached in

the process of major changes and enhancement in SPs and/or in very specific and individual cases where their

contribution is the most valued. Academic staff members maintain good contacts with relevant industries on

personal and also professional basis through repeating meetings, workshops and partnerships. IUS

implements several projects with companies, institutions and government bodies as partners.

Self-evaluation team that prepared this report was appointed by Dean on November 12, 2014 and

after the initial document and guidelines analysis detailed training was organized by QA Office. The training

involved elaboration on all the items and Q&A session. QA Office was made available for all the enquiries

and provided all the guidance needed. The Team was given the report template and list of annexes to prepare.

The Team met regularly over the period of time, distributed some of the work, contacted other services,

interviewed stakeholders, collected data, discussed all the findings and agreed on final report.

SWOT analysis

Strengths:

At the end of each semester program, an internal evaluation of the courses/teachers/teaching material

is conducted (course evaluation, student survey). Academic staff is also involved in the evaluation of new

teachers

Weaknesses:

Need to strengthen and develop software for relationships with stakeholders, need to automation of

QA activities as a holistic system with ICT software

Opportunities:

Initiation of innovation in teaching-learning, improving academic performance of academic staff

Threats:

The increasing number of procedures regarding QA may discourage academic and administrative

staff and harm the real aim of the approach


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Action plan IUS has a plan to finalize in a period of three years to finalize software regarding systemic relationship with

stakeholders and QA system

- IUS has regular events for introducing new education and learning methods to the academic staff and the

students

- IUS QA system is strictly in line with ESG. Therefore, any extra measures beside ESG are not welcomed

easily.


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Achieved Goals

Level of accomplishment

The program is designed to provide theoretical and practical knowledge, skills and competences associated

with a field of learning, application of knowledge in devising and sustaining arguments, in solving problems

and in making judgments that take into account social or ethical issues. Main strands in the field of

economics are identified and shown via matrixes in the relevant sections of this report.

First Study Cycle is a structured on a way to give competence and experience in a professional work

setting during which the student applies and acquires knowledge and skills. Demonstrate knowledge and

understanding in the field of economics that builds upon secondary education and which is supported by the

some aspects of modern knowledge in the field of economics.

During the study of this program students get the skills necessary to gather and interpret relevant data

from the economics and explain the statistical problems involved as well as propose solutions for problems

that do not have clear answers and indicate under what conditions they may be viable solutions and create.

Also, this program aims to provide a level of knowledge that will provide a profile of professionals trained to

independently perform technical tasks as well as to enable students to apply economic analysis to evaluate

specific policy proposals within business enterprises, financial institutions, public administration etc.

The education and connections students gain from the economics program at IUS can open the doors

and accelerate the path for their desired career destination by opening up new horizons of possibilities. Our

unique approach to education goes beyond the classroom and enables us to be different from the competition

by ensuring that our students are extremely satisfied with all aspects of their education.

Every part of student’s experience at Economics Program is designed to give you the tools needed in

his/her future professional field, including internship programs that can help him/her to explore areas of

career interest.

Economics program at IUS aims to produce graduates who are well prepared for careers matching of

skills supply to the needs of enterprises and labour markets. Through lectures and exercises in small groups,

with good cooperation with professors and teaching assistants, our students are stimulated to express

creativity, to become interested in a particular area and become good analysts of economic phenomena. After

graduation, our students are trained to work in banks, financial institutions, government institutions, NGOs,

local and foreign companies. Moreover, a degree in Economics provides graduates with a range of

transferrable skills to be used in their future employment. It provides students with appropriate analysis tools

for contemporary economic issues and problems of economic policies.

Acquired competences SP of Economics allows cooperate with the private and public sectors, mobility within the academic

community and extracurricular activities for students what creates the conditions for professional growth and

development with the goal of successful employment and competitiveness in a dynamic economic

environment.


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With its experience since 2004, SP of Economics has been known on the local and international

markets as well as different institutions in relation to the competition. SP of Economics is active in terms of

cooperation with the government, NGOs and the business sector through various types of projects, with

special attention on the strategic objectives of the FBA and benefits for teachers, and students in terms of

realizing the potential of creative ideas. Our academic staff has a proactive and interactive approach; they

teach students and talk with them to help them to choose the path that is consistent with their interests and

abilities. Increasing the number of students in the last two years show that the SP economy has a competitive

curriculum, which substantially meets the needs of the labor market.

It promotes the use of various teaching methods, ranging from traditional lectures to case studies,

class discussions, and homework, preparing and presenting term papers. The table below shows the number

of students enrolled in SP Economics. As may be noticed, in the last two years has been made a progress in

student enrollment in the second and third cycle studies. At the same time, thanks to some improvements in

the curriculum and recruiting new academic staff it has been some progress in enrollment and the number of

new students in the undergraduate program.

Table .16: Number of Students Enrolled

2010/2011 2011/2012 2012/2013 2013/2014 2014/2015

Number of students

enrolled in B.A

Program

45 52 61

46 63

Number of students

enrolled in M.A

Program - 3 7

7 7

Number of students

enrolled in PhD

Program

- 1 3

7 6

This SP allows steady quality and improving the international competitiveness of the teaching and research

activities. In the future, the goals of the SP of economics are focused on:

Review, and the development of SP and innovation of the teaching process in accordance with the

user's needs and modern scientific developments and trends in the education process so as to ensure

that students acquire the appropriate scientific and professional knowledge and skills;

Implementation of best practice in the country and the world in all areas and processes especially

when it comes to teaching, research and management.

SWOT analysis

Strengths:

Economics SP offer a wide list of well designed and updated courses based on expertise lectures in

the field of Economics. The quality of teaching staff is in line with the courses’ requirements.

Besides flexible curriculum, ten-year experience in teaching of the academic staff and institution as a

whole create an opportunity for students to follow different tracks without sacrificing quality.


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Weaknesses:

The number of academic staff in the Economics study program and in the faculty is enough to initiate

a periodical journal which mainly dedicated to the field of economics and issues related to Balkans. However,

the planned journal has not been issued yet.

Opportunities:

If a need occurs for extra academic staff in case of a change in curriculum we will easily meet this

need due to flexible administrative and financial operating of IUS.

Threats:

Joint degree and double diploma programs are planned in a couple of years. This may result in

coordination problems and deterioration in the quality of the Economics study program.

Action plan

Starting from the first half of 2015, FBA will publish a journal twice a year; the Economics study program

will be one of main partner of this journal.

The Economics study program will benefit from new teaching capacity which has already been

planned by the introduction of new two programs in accordance with current trends in the labor market.

Joint degree and double diploma programs are planned to grow gradually in order to sustain a healthy

expansionary process.


76

Conclusion and Summary The Economics study program is very well structured and equipped compared with similar study programs in

the region. However the relatively short historical record and small number of students necessitate more

effective promotion. Teaching in English and automatic recognition of the Economics study program in other

countries are remarkable advantages of the program. Leadership and Entrepreneurship Center, Lifelong

Learning Center and Center for Balkan Studies are the newly established non-formal education centers that

take mainly the need of labor market into account. Alongside with the formal education the Economics study

program will benefit from these centers and help students to advance their carrier planning. Joint degree and

double diploma programs will also motivate academic staff and students to be more mobile and more open to

other education traditions. Incentives for high quality publications are activated more systematically and the

initiation of new faculty level journal will create extra motivation for academic staff in engaging in

publication activities.

SP Economics has serious competition in the domestic market in the form of several programs that

perform similar lectures in English. Special attention is going to be given on the analysis of our competitor's

environment in order to continue improving the curriculum that will profile the Economics study program as

a market leader in economics education. It involves redesigning programs, modules and discipline in

accordance with the requirements of the local and regional markets in terms of economic education. In the

coming years, with the increasing number of students the Economics study program will start to develop

different graduate profiles which will meet the needs of labor market. Market oriented graduate profiles will

be the main concern of the Economics study program.


77

Annexes

Annex 1: List of Theses

List of theses in the academic year 2013-2014

B.A. theses

Eldar Spahic (2017). MACROECONOMIC CONSEQUENCES OF THE 2008 ECONOMIC CRISIS: CASE

OF SELECTED COUNTRIES.

Selma Begic (2016). COMPARATIVE ANALYSIS OF SOURCES OF FINANCING ECONOMIC GROWTH

IN BOSNIA AND HERZEGOVINA, CROATIA AND SERBIA

Miran Torlic (2017). “EFFECT OF GLOBALIZATION ON MIGRATION FLOW ON WESTERN BALKAN”

Amina Pašić (2016) “COMPARATIVE ANALYSIS OF FINANCIAL INTEGRATION AND ECONOMIC

GROWTH IN BOSNIA AND HERZEGOVINA, CROATIA, MONTENEGRO AND SERBIA.

Amila Tuzlić, “Economic Integration Case Study: CEFTA”, 2014.

Irna Junuzović, “The Role of Pensions Transfers in Bosnia and Herzegovina”, 2014.

Armin Isić (2013). “IPA FUNDS: COMPARATIVE ANALYSIS OF IPA UTILIZATION EFFICENCY

BY POST-BOSNIAN WAR STATES”

Samra Ahmedbegović, “INVESTING IN MUTUAL FUNDS AND USING MEAN VARIANCE MODEL IN

DECISION MAKING , 2013

Belma Bubica, “IMPORTANCE OF INFORMATION SYSTEMS FOR SMALL AND MEDIUM

ENTERPRISES -CASE OF BOSNIA AND HERZEGOVINA” 2013

Dino Mahmuljin, CREATIVITY AND INNOVATION AS THE DRIVING POWER OF

ENTREPRENEURSHIPS, 2013

Majda Šabović, “Comparative analysis of inequality between countries using alternative measure- evidence

from CEE countries” , 2014.

M.A. Thesis

Hamza Crnovrsanin, FOREIGN DIRECT INVESTMENT AND TRANSPARENCY-EMPRICIAL EVIDENCES

FROM SOUTH EAST EUROPE, sept. 2017, Mentor M. Ganic

Hakan Yildiz, SOCIOECONOMIC CHARACTERISTICS OF INTERNATIONAL UNIVERSITY OF SARAJEVO

STUDENTS AND THEIR IMPACT ON LOCAL ECONOMY, 2017, Mentor A. Brankovic

Ilda Manjic, WHAT DETERMINES THE SAVING RATE IN WESTERN BALKAN COUNTRIES?, sept. 2016,

Mentor M. Ganic

Seyma Aydin, RENT DISCRIMINATION IN SARAJEVO: IUS SAMPLE, sept. 2016, mentor, Assoc. Prof. Dr.

Ibrahim DURSUN

Amal Delic, FDI AND ECONOMIC GROWTH - CROSS COUNTRY ANALYSIS, 2016 , Mentor M. Ganic


78

Nurgul BAŞARAN, THE ANALYSIS OF GLASS CEILING SYNDROME IN ISLAMIC FINANCAL

INSTITUTIONS IN TURKEY, October 2014, Assoc. Prof. Dr. Elif Nuroğlu

Adis Rahman, Economic effects of subsidies for milk production: in Bosnia and Herzegovina, October 2013.

Fahrudin Malanović, The Impact of Liquidity on Export Decision of Firm: Case study of B&H, October 2013

Amar Muhović, The position and Competitiveness of SME S in the era of Globalization- Case study: B&H , October

2013

NURGÜL BAŞARAN, THE ANALYSIS OF GLASS CEILING SYNDROME IN ISLAMIC FINANCAL

INSTITUTIONS IN TURKEY. 2014

Edo Omičević, Organic Food Production in B&H: a causes and consequences of skills mismatch, 2014

PhD Thesis

Z. Hafsa Orhan Astro¨m (2012). RISK ANALYSIS FOR PROFIT AND LOSS SHARING INSTRUMENTS

Edo Omercevic (2016), USAGE OF FINANCIAL ACCOUNTING DATA IN DEFAULT PREDICTION OF

SMALL AND MEDIUM SIZED ENTERPRISES: THE CASE OF BOSNIA AND HERZEGOVINA


79

Annex 2: Graduate/Mentor ratio

Table A-17: Graduates /mentors ratios in 2017-2018 (check with SAO)

Number of graduates Number of mentors Ratio

I cycle 6

2

3

II cycle 5 2.5

III cycle 0 0 0

Annex 3: Library data

Table A-18: Library data

Language Type of literature Number of titles Total number of copies

English Books 89 121

Journals 32 158

Other Books 78 126


80

Annex 4: Computer labs

Table A-19: Computer labs data


81

Annex 5: Comparison of Institutional, National and European Systems

Figure 2: EQF & NQF applied at IUS and ECTS study duration and design


82

Annex 6: Forms for Programs and Courses

Figure 3: SP-01 form


83



84



85



86



87

Annex 7: Course syllabus template

Table A-20: C-01 form

Economics, ECON 101

Full Course Title: Economics

Ekomiji

Course Code: ECON101

Course Level/BiH cycle: I. cycle

ECTS credit value: 6 ECTS

Student work-load: For the whole semester:

Lectures Tutorial / Practical training e.g. Project e.g. Internship

Individual

learning TOTAL

42 14 10 N/A 84 150

Length: One semester

Faculty/School/Department: FBA, Economics Program

Course leader: Prof. Metin TOPRAK

Contact details: Office: Building B, F1-4 e-mail: [email protected]

Office hours: Phone: 033 957 418

(Name of assistant(s)) Azra Bico

Office: Building B, F1-5 e-mail: [email protected]

Office hours: Phone: 033 957 412

Site: Building B, F2-23

Host Study Program: Economics

Course status: Program required

Pre-requisites: None

Access restrictions: None

Assessment: Participation in discussions during the classes, one assignment, midterm exam, final exam

Date validated: 03.10.2014

Course aims:

to introduce the main concepts and methods of micro and macroeconomics,

to introduce students with main questions micro and macroeconomics are concerned with,

to learn inter-relations between individual, national and world economy,

to understand the effects of government policies

Learning outcomes:

After finishing the course successfully, the IUS student will be able to:

identify the basics of economy

identify movement in national as well as global economy

identify the economic press

identify the government policies

apply economics skills and reasoning to his / her future work, as well as everyday life situation

Indicative syllabus content: What is economics about; Demand and Supply; Elasticity; Costs; Perfect and Imperfect Competition; GDP and

Economic Growth; Fiscal and Monetary Policy; etc.

Learning delivery: The methods include lecturing (which may involve power point presentations, video and audio aid), lecturing,

student presentations, class discussions.

Assessment Rationale:

Participation of student and presentation of assignment during the classes are used for measuring self learning

and independent study skills. In multiple choice and true/false questions correct answers are valued, for problems

correct answers and procedures are valued, in essay section correct elaboration of question is valued.

Assessment Weighting:

Assessment Criteria Number Effect (%)

Participation 1 10

Assignment and Presentation 1 10

Midterm exam 1 40

Final exam 1 40

Total 100

Essential Reading: N.Gregory Mankiw, Mark P. Taylor & A.Ashwin, Business Economics, 1st Edition.




88

Economics, ECON 101

Recommended readings:

N.Gregory Mankiw & Mark P. Taylor, Economics, 2nd Edition.

Michael Parkin, Economics, 10e, Prentice Hall (2011)

David Begg, Foundations of Economics, 4e,

N.Gregory Mankiw, Principle of Economics, 6th Edition.

Intranet web reference: N/A

Important notes: Assignment / homework

1 assignment

IT application

To use internet based data during the classes, office programs

Quality assurance:

QA Office conducts surveys on learning outcomes, student workload, length of time spent for assignments and

presentations, appropriateness of type of exams, competence of the professor, adequacy and appropriateness of

the course material and IT applications

Course Schedule Week Lesson /

Date

Topics to be covered Class

activities

Lab

activities

Problems/

Assignments

(Homework)

Readings Learning objectives/ outcomes (After this lesson student

will be able to:)

1 1, 2 & 3

09-10/10/14

Part I. The Economic and

Business Environment –

Setting the Scene: 1.What is Business Economics; 2.

Economics and Business

Decision Making; 3.The Business Environment;

Students will

participate

to discuss the

subjects

No lab activities

N/A Chapters: 1, 2, 3

1. Identify the relationship of economics with scare resources, opportunity cost, marginal reasoning.

2. Identify the key areas of business decision making.

3. Identify business activity, factors of production and

transformation process and add value.

2 1, 2 & 3

16-17/10/14

Part II.

Microeconomics-The Market System: 4.Supply

and Demand: How Markets

Work; 5.Elasticity and Its Applications;

Students

will participate

to discuss

the subjects

No lab

activities

N/A Chapters:

4,5

1. Identify competitive market, determinants of demand and

supply, supply and demand curves and market equilibrium.

2. Comprehend meaning of elasticity, elasticity of supply

and demand; apply elasticity to price, income and revenue.

3 1, 2 & 3

23-24/10/14

Part III.

Microeconomics-The Limitations of Markets:

6.Market Failure, 7.The

Consumer and consumer Behaviour;

Students

will participate

to discuss

the subjects

No lab

activities

Students will

assigned to choose a popular

economic subject

from the media coverage and be

prepared to present in the classroom

until end of

classes.

Chapters: 6,

7

1. Explain market failure and its sources, consumer surplus

and producer surplus, economic analysis of pollution and the meaning of social and ethical responsibility.

2. Identify the assumptions of the standard economic

model, the concepts of value and utility, budget constraint, the relationship of indifference curves and

consumer's preferences.

4 1, 2 & 3

30-31/10/14

Part IV.

Microeconomics-The Economics of Firms In

Markets: 8.Business Goals

and Behaviour, 9.Firm Behaviour and the

Organization of Industry; 10.The Firm’s Production

Decisions;

Students

will participate

to discuss

the subjects

No lab

activities

N/A Chapters:

8,9, 10

1. Identify the distinction between financial and non-

financial goals of business, the point at which a firm maximizes profit, the break-even point, the point of

revenue maximization and the point of cost

minimization. 2. Explain the items included in a firm’s costs of

production; analyze the link between a firm’s production process and its total costs; explain the meaning of

average total cost and marginal cost and how they are

related; explain the shape of a typical firm’s cost curves

and the relationship between short-run and long-run

costs.

3. Explain the meaning of competition and a competitive market, the conditions under which a competitive firm

will shut down temporarily, the conditions under which a

firm will choose to exit a market, sunk costs in production decisions, derivation of supply curve for a

competitive firm from the short run curves.

5 1, 2 & 3

06-07/11/14

11.Corporate Strategy and

Pricing Policy; 12.Market Structures;

Students

will participate

to discuss

the subjects

No lab

activities

N/A Chapters:

11, 12

1. Identify the meaning of strategy, the key stages in

developing and implementing strategy, a variety of pricing strategies that firms can use.

2. Identify how imperfect competition differs from perfect

competition, why some markets have only one seller; analyze how a monopoly determines the quantity to


89

Week Lesson /

Date

Topics to be covered Class

activities

Lab

activities

Problems/

Assignments

(Homework)

Readings Learning objectives/ outcomes (After this lesson student

will be able to:)

produce and the price to charge; consider the various

public policies aimed at solving the problem of monopoly.

6 1, 2 & 3

13-14/11/14

13.Other Types of

Imperfect Competition;

Students

will participate

to discuss

the subjects

No lab

activities

N/A Chapters: 13 1. Analyze competition among firms that sell differentiated

products; compare the outcome under monopolistic

competition and under perfect competition; examine what outcomes are possible when a market is an

oligopoly; explain the prisoners’ dilemma and how it

applies to oligopoly and other issues; consider how competition laws try to foster competition in

oligopolistic markets. 7 1, 2 & 3

20-21/11/14

Part V. Microeconomics-Factor

Markets: 14.Labor Markets;

Students will

participate

to discuss the

subjects

No lab activities

N/A Chapters: 14 1. Analyze the labour demand of competitive, profit-

maximizing firms; consider the household decisions that lie behind labour supply; explain why equilibrium wages

equal the value of the marginal product of labour;

examine how a change in the supply of one factor alters the earnings of all the factors.

8 1, 2 & 3

27-28/11/14

MIDTERM EXAM N/A No lab

activities

N/A N/A N/A

9 1, 2 & 3

04-05/12/14

15.Financial Markets; Students

will

participate to discuss

the

subjects

No lab

activities

N/A Chapters: 15 1. Explain the relationship between present value and future

value, how risk-averse businesses reduce the risk they

face; analyze how asset prices are determined; develop a

model of the supply and demand for loanable funds in financial markets; use the loanable funds model to

analyze various government policies. 10 1, 2 & 3

11-12/12/14

Part VI. Introduction to

Macroeconomics: 16.The

Macroeconomic Environment;

Students will

participate

to discuss the

subjects

No lab activities

N/A Chapters: 16 1. Consider why an economy’s total income equals its total

expenditure; identify how gross domestic product (GDP) is defined and calculated; four major components of

GDP; explain distinction between real GDP and nominal

GDP, the consumer prices index (CPI), the cost of living and unemployment.

11 1, 2 & 3

18-19/12/14

17.Aggregate Demand and

Aggregate Supply;

Students

will participate

to discuss

the

subjects

No lab

activities

N/A Chapters: 17 1. Consider how the economy in the short run differs from

the economy in the long run; use the model of aggregate

demand and aggregate supply to explain economic fluctuations; examine the causes of shifts in aggregate

demand and aggregate supply.

12 1, 2 & 3

25-26/12/14

18.Macroeconomics-

Employment and Unemployment;

Students

will participate

to discuss

the subjects

No lab

activities

N/A Chapters: 18 1. Explain the data used to measure the amount of

unemployment; consider how unemployment can result from minimum wage laws, how unemployment can arise

from bargaining between firms and unions.

13 1,2 &3

01-02/01/15

19.Macroeconomics-

Inflation and Price Stability;

Students

will

participate to discuss

the

subjects

No lab

activities

N/A Chapters: 19 1. Consider the various costs that inflation imposes on

society; explain why policy makers face a short-run

trade-off between inflation and unemployment; consider why the inflation-unemployment trade-off disappears in

the long run; analyze how supply shocks can shift the

inflation-unemployment trade-off; consider the short-run cost of reducing the rate of inflation.

14 1, 2 & 3

08-09/01/15

20.Macroeconomics/Fiscal,

Monetary and Supply-Side Policy;

Students

will participate

to discuss

the subjects

No lab

activities

N/A Chapters: 20 1. Explain the difference between monetary, fiscal and

supply-side policies, the difference between planned and

actual spending, saving and investment, why deflationary and inflationary gaps occur; examine the concept of the

marginal propensity to withdraw; explain the theory of

liquidity preference as a short-run theory of the interest rate; analyze how monetary policy affects interest rates

and aggregate demand. 15 1, 2 & 3

15-16/01/15

Part VII. Global Business and

Economics: 21.The Global

Economy

Students will

participate

to discuss the

subjects

No lab activities

N/A 21 1. Examine the nature of emerging markets and look at

some of the costs and benefits to firms of doing business in emerging markets; explain an outline of European

monetary union and the single market, a currency union,

fiscal policy in common currency areas.

16 19-30/01/14 Final Exam

17 Final Exam


90

Annex 8: Academic staff evaluation form

Figure 8: Academic staff evaluation form

Source: http://la.ius.edu.ba/evaluation-academic-staff-procedures-international-university-sarajevo

Annex 9: Events organized by Study Economics study program

Table A-21: Organization of events by SP

Number of events

organized Conferences Seminars Workshops Lectures Art activities Other

2012/13 1 4 1 2 0 1

http://la.ius.edu.ba/evaluation-academic-staff-procedures-international-university-sarajevo


91

Annex 10: Appointment of the Team for Study Program Analysis

Appointment of the Team for Study Program Analysis


92

Annex 11: Curriculum for 1st Cycle

Table A-22: Curriculum of the Economics study program

International University of Sarajevo, Faculty of Business and Administration (FBA)

Undergraduate Curriculum: Economics (ECON)

Semester I Semester II

Code Title Prerequisites T P ECTS Code Title Prerequisites T P ECTS

ELIT100 Academic English and Effective Communication

3 0 6 ELIT200 Critical Reading and Writing

3 0 6

MATH100 Mathematical Skills 3 2 6 MATH101 Calculus I MATH100 3 2 6

ECON111 Introduction to Microeconomics

3 0 6 ECON112 Introduction to Macroeconomics

3 0 6

MAN102 Introduction to Management

3 0 6 IBF205 Principles of International Business

3 0 6

University Elective See Table 1 2 0 3 University Elective See Table 1 2 0 3

Foreign Language Elective I 2 0 3 Foreign Language Elective II

Language Elective I

2 0 3

Semester Total = 30 Semester Total = 30

Semester III Semester IV


ECON211 Business Statistics I MATH100 3 2 6 ECON221 Business Statistics II ECON211 3 2 6

ECON201 Intermediate Microeconomics

ECON111 3 2 6 ECON202 Intermediate Macroeconomics

ECON112 3 2 6

MAN231 Financial Accounting MATH100 3 2 6 IBF208 Business Finance MATH100 3 2 6

IBF 102 Managerial Mathematics MATH100 3 2 6 ECON204 International Political Economy

3 0 6

MAN 201 Introduction to Management Science

MAN102 3 0 6 MAN352 Consumer Behaviour 3 0 6


Semester V Semester VI


MAN325 Money and Banking ECON202 3 0 6 ECON404 International Monetary System

ECON112 3 0 6

ECON350 Financial Institutions and Markets

ECON112 3 0 6 ECON320 Public Economics ECON111 3 0 6

ECON301 Econometrics I ECON221 3 2 6 ECON302 Econometrics II ECON301 3 2 6

ECON455 Labor Economics ECON111 3 0 6 ECON200 History of Economic Thought

ECON112 3 0 6

IBF402 International Trade ECON201 3 0 6 IBF401 International Finance ECON202 3 0 6


Semester VII Semester VIII


Program Elective I See Table 2 */**

3 0 6 Program Elective IV See Table 2 */**

3 0 6

Program Elective II See Table 2 */**

3 0 6 Program Elective V See Table 2 */**

3 0 6

Program Elective III See Table 2 */**

3 0 6 Program Elective VI / Graduation Project

See Table 2 */**

3 0 6

Free Elective I 3 0 6 Free Elective II 3 0 6

ECON470 Work placement/Internship

0 14 6 Free Elective III 3 0 6


Abbreviations: T (Theory), P (Practice), ECTS credits

No. of Courses

42

Total Credits Required for Graduation 240 Average ECTS Credits Per Semester 30

Total Credits of Electives 60 Elective Ratio 0.3


93

6 Program Electives are taken from TABLE 2. Courses from other programmes within the University can be taken with the appoval of the Programme Coordinator.

3 Free Elective courses are taken from any faculty.

2 Language Elective courses are taken from the list of language courses provided (cannot be the student's mother language).

2 University Elective courses are taken from the list of university elective courses provided (TABLE 1).

Work placement/Internship is typically practiced in summer for a period of at least 25 work days, amounting to a mimimum of 150 hours.

IUS Pool of 3 ECTS University Courses, AY 2017-2018

No. Course Code Course Name ECTS credits

1 ARCH107 Understanding Art and Architecture 3

2 CS100 Computer Skills 3

3 CULT101 Understanding Cultural Encounters 3

4 NS111 Understanding Nature and Knowledge 3

5 NS112 Understanding Science and Technology 3

6 SPS140 Understanding Religion 3

7 xxx Foreign Language Elective I 3

8 xxx Foreign Language Elective II 3

IUS Pool of 6 ECTS University Courses, AY 2017-2018

No. Course Code Course Name ECTS credits

1 CS103 Introduction to Programming 6

2 ECON102 Globalization and Business 6

3 ECON105 Understanding Politics, Economy and Management (UNI) 6

4 ELIT101 Introduction to Literature 6

5 ELIT200 Critical Reading and Writing 6

6 ENS105 The Brain 6

7 IR101 Introduction to International Relations 6

8 MAN102 Introduction to Management 6

9 MATH100 Mathematical Skills 6

10 MATH101 Calculus I 6

11 NS102 Physics 6

12 NS103 Biology 6

13 NS104 General Chemistry 6 14 POLS102 Introduction to Political Science 6 15 PSY103 Introduction to Psychology 6

16 SOC102 Introduction to Sociology 6

17 SPS103 Law and Ethics 6

18 SPS120 Critical Thinking 6

19 SPS150 World History 6

20 VA121 History of Art I 6

Table A-23: List of Elective Courses in the Economics study program

Code Title Pre-requisites ECTS Code Title Pre-requisites ECTS

ECON305 Economic History ECON112 6 ECON490 Graduation Project Senior standing 6

ECON330 Industrial Organisation ECON201 6 IBF207 Behavioral Finance Junior standing 6


94

ECON355 Time Series Analysis ECON221 6 IBF303 International Business Law

6

ECON367 Environmental Economics ECON111 6 IBF304 Risk and Insurance

6

ECON401 Research Methods ECON221 6 IBF306 Public Finance Junior standing 6

ECON430 Growth and Development Senior standing

6

IBF313 Understanding Emerging Markets

6

ECON454 Islamic Economics ECON112 6 IBF312 Microfinance

6

ECON462 Comparative Economic Systems ECON112 6 IBF313

Understanding Emerging Markets Junior standing

6

ECON262 Matrix Algebra MATH100 6 IBF314

Financial Instruments and Analysis Junior standing

6

IBF310 Business Ethics

6 IBF 415

R Language for Business and Finance Senior standing

6 6

IBF318 International Management IBF205

6 IBF 417

Advanced Futures and Options

ECON 221, IBF 208 6 6

IBF 403 Multinational Corporation and Process of Globalization

Junior standing 6 IBF418 Mergers and Acquisitions

ECON 221, IBF 208 6 6

IBF 405 International Banking Senior standing 6

IBF 419 Financial Derivates and Simulations

ECON 221, IBF 208 6 6

IBF 409 Investment and Portfolio Management ECON 221, IBF 208

6 IBF462

International Corporate Finance Senior standing

6 6

IBF 410 Real Estate Markets Senior standing

6 IR213 International Issues in the Balkans IR101 6 6

IBF411 Commodity Derivatives ECON 221, IBF 208 6 IR214 International Law IR101 6 6

IBF412 Financial Risk Management ECON 221, IBF 208 6 IR 215 EU System IR101 6 6

IBF414 Bond Market Pricing and Trading Strategies

ECON 221, IBF 208 6 IR307

Contemporary International Politics IR101

6

6

IR 305 International Organisations IR101 6

MAN442 E-Business Senior standing

6

IR467 Energy Security Senior standing

6 MAN443 International Marketing

MAN205

6

IR471 Economic Diplomacy Senior standing 6

MAN445 Customer Relationship Management

MAN102

6

MAN218 Personal Finance Junior standing

6 MAN446 Service Marketing

MAN205

6

MAN328 Sales Management MAN205

6 MAN453 Project Management

Senior standing

6

MAN331 Contemporary Management MAN102

6 MAN454

Logistics and Supply Chain Management

MAN201 6

MAN371

The Principles of Travel and Tourism Junior standing

6 MAN464 Advertising Management

Senior standing

6

MAN406 Innovation Management Senior standing

6 MAN205 Marketing

Junior standing

6

MAN409 Operations Management Senior standing

6 MAN303 Entrepreneurship and Small Business Management

MAN102 6

MAN461

Management Information System MAN102

6 MAN402 Strategic Management MAN102

6

MAN301 Human Resource Management MAN 102

6 MAN305 Organization Theory MAN221 6

* Students can take any ECON, MAN or IBF course, which is not already a required course in their study programadviser/program coordinator.

** Students can take the following IR courses as program electives: IR213, IR214, IR215, IR303, IR305, IR 467, IR471 provided that they satisfy pre-requisite conditions.

*** Junior standing: 100 ECTS must be completed successfully.

**** Senior standing: 148 ECTS must becompleted successfully.


95


96

Annex 12: Mevlana exchange program agreements

Table A-24: IUS signed Mevlana exchange program agreements

Turkey – MEVLANA Agreements

1. Van Yuzuncu Yil University http://www.yyu.edu.tr/

2. Adana Science and Technology University www.adanabtu.edu.tr/

3. Agri Ibrahim Cecen University http://www.agri.edu.tr/yeni/

4. Ahi Evran University http://www.ahievran.edu.tr/

5. Akdeniz University http://www.akdeniz.edu.tr/en/

6. Artvin Coruh University http://www.artvin.edu.tr/eng-.html

7. Avrasya Trabzon University http://www.avrasya.edu.tr/

8. Balikesir University http://www.balikesir.edu.tr/bau_eng

9. Bartin University http://en.bartin.edu.tr/

10. Bulent Ecevit University http://w3.beun.edu.tr/

11. Cukurova University http://www.cu.edu.tr/eng/

12. Dumlupinar University http://www4.dpu.edu.tr/

13. Duzce University http://www.eng.duzce.edu.tr/

14. Eskisehir Osmangazi University http://www.ogu.edu.tr/

15. Firat University http://yeni.firat.edu.tr/

16. Fatih Sultan Mehmet University http://www.fatihsultan.edu.tr/

17. Gaziantep University http://www.gantep.edu.tr/en/

18. Gediz University www.gediz.edu.tr/

19. Giresun University http://www.giresun.edu.tr/

20. Gaziosmanpasa University http://www.gop.edu.tr/

21. Hacettepe University http://www.hun.edu.tr/

22. Hitit University http://www.hitit.edu.tr/

23. Izmir Katip Celebi University http://www.ikc.edu.tr/

24. Karabuk University http://www.karabuk.edu.tr/

25. Karadeniz Technical University http://www.ktu.edu.tr/

26. Kocaeli University http://www.kocaeli.edu.tr/int/

27. Mersin University http://www.mersin.edu.tr/eng

28. Namik Kemal University http://www.nku.edu.tr/

29. Ondokuz Mayis University http://www.omu.edu.tr/

30. Osmaniye Korkut Ata University http://www.osmaniye.edu.tr/

31. Recep Tayyip Erdogan University http://www.rize.edu.tr/

32. Sakarya University http://www.sakarya.edu.tr/en/

33. Uludag University http://www.uludag.edu.tr/

34. Yildirim Beyazit University http://www.ybu.edu.tr/

35. Cankiri Karatekin University http://karatekin.edu.tr/

36. Mehmet Akif Ersoy University http://www.mehmetakif.edu.tr/

37. Selcuk University http://www.selcuk.edu.tr/English/DefaultEng.aspx

38. Mus Alparslan University http://www.alparslan.edu.tr/_english/index.aspx

http://www.yyu.edu.tr/

http://www.adanabtu.edu.tr/

http://www.agri.edu.tr/yeni/

http://www.ahievran.edu.tr/

http://www.akdeniz.edu.tr/en/

http://www.artvin.edu.tr/eng-.html

http://www.avrasya.edu.tr/

http://www.balikesir.edu.tr/bau_eng

http://en.bartin.edu.tr/

http://w3.beun.edu.tr/

http://www.cu.edu.tr/eng/

http://www4.dpu.edu.tr/

http://www.eng.duzce.edu.tr/

http://www.ogu.edu.tr/

http://yeni.firat.edu.tr/

http://www.fatihsultan.edu.tr/

http://www.gantep.edu.tr/en/

http://www.gediz.edu.tr/

http://www.giresun.edu.tr/

http://www.gop.edu.tr/

http://www.hun.edu.tr/

http://www.hitit.edu.tr/

http://www.ikc.edu.tr/

http://www.karabuk.edu.tr/

http://www.ktu.edu.tr/

http://www.kocaeli.edu.tr/int/

http://www.mersin.edu.tr/eng

http://www.nku.edu.tr/

http://www.omu.edu.tr/

http://www.osmaniye.edu.tr/

http://www.rize.edu.tr/

http://www.sakarya.edu.tr/en/

http://www.uludag.edu.tr/

http://www.ybu.edu.tr/

http://karatekin.edu.tr/

http://www.mehmetakif.edu.tr/

http://www.selcuk.edu.tr/English/DefaultEng.aspx

http://www.alparslan.edu.tr/_english/index.aspx


97

Table A-25: IUS signed memorandums of understanding

Memorandum of Understanding

Bosnia and Herzegovina

1. University of Sarajevo http://www.unsa.ba/

2. University Džemal Bijedić http://www.unmo.ba/

3. Islamic Pedagogical Faculty of University in Zenica http://www.ipf.unze.ba/

4. Sarajevo Graduate School of Business http://sgsb.ba/

5. Institute for Genetic Engineering and Biotechnology of University of Sarajevo http://www.ingeb.ba/

6. Clinical Center of the University of Sarajevo http://www.kcus.ba/

7. Federal Institute for Hydrometeorology www.fbihvlada.gov.ba

8. Sarajevo School of Science and Technology http://www.ssst.edu.ba/

9. Burch University http://www.ibu.edu.ba/bs/

Turkey

10. Marmara University http://www.marmara.edu.tr/

11. Istanbul Commerce University http://www.iticu.edu.tr/Pages/Ana-Sayfa.aspx

12. Karabuk University http://www.karabuk.edu.tr/EN/index.aspx

13. TOBB University of Economics and Technology http://www.etu.edu.tr/?page=8

14. Istanbul University http://www.istanbul.edu.tr/english/

15. Istanbul Technical University http://www.itu.edu.tr/

16. Yalova University http://www.yalova.edu.tr/eng/

17. Yıldız Technical University http://www.yildiz.edu.tr/eng/

18. Sakarya University http://www.sakarya.edu.tr/en/

19. Kafkas University http://www.kafkas.edu.tr/english/

20. Usak University http://www.usak.edu.tr/

21. Erciyes University http://www.erciyes.edu.tr/en/

22. Eskisehir Osmangazi University http://www.ogu.edu.tr/

23. Hitit University http://www.hitit.edu.tr/

24. Izmir University http://www.izmir.edu.tr/tr/

25. Ondokuz Mayis University http://www.omu.edu.tr/

26. Fatih Sultan Mehmet University http://www.fatihsultan.edu.tr/

27. Istanbul Medeniyet University http://www.medeniyet.edu.tr

28. Kahramanmaras Sutcu Imam University http://www.ksu.edu.tr/

29. Agri Ibrahim Cecen University http://www.agri.edu.tr/

USA

30. Henderson State University http://www.hsu.edu/

31. Texas A&M University http://www.tamu.edu/

32. Wright State University Ohio http://www.wright.edu/

Slovenia

33. University of Ljubljana http://www.uni-lj.si/en/about_university_of_ljubljana.aspx

Serbia

34. International University of Novi Pazar http://www.uninp.edu.rs/

Malaysia

35. University Kebangsaan Malaysia http://www.ukm.my/v3/

36. CASIS/UTM Malaysia www.utm.my

37. University of Malaya http://www.um.edu.my/

Italy

38. John Cabot University http://www.johncabot.edu/

Latvia

39. Daugavpils University http://du.lv/en

Cyprus

40. Cyprus International University http://www.ciu.edu.tr/english/

Australia

http://www.unsa.ba/

http://www.unmo.ba/

http://www.ipf.unze.ba/

http://sgsb.ba/

http://www.ingeb.ba/

http://www.kcus.ba/

http://www.fbihvlada.gov.ba/

http://www.ssst.edu.ba/

http://www.ibu.edu.ba/bs/

http://www.marmara.edu.tr/

http://www.iticu.edu.tr/Pages/Ana-Sayfa.aspx

http://www.karabuk.edu.tr/EN/index.aspx

http://www.etu.edu.tr/?page=8

http://www.istanbul.edu.tr/english/

http://www.itu.edu.tr/

http://www.yalova.edu.tr/eng/

http://www.yildiz.edu.tr/eng/

http://www.sakarya.edu.tr/en/

http://www.kafkas.edu.tr/english/

http://www.usak.edu.tr/

http://www.erciyes.edu.tr/en/

http://www.ogu.edu.tr/

http://www.hitit.edu.tr/

http://www.izmir.edu.tr/tr/

http://www.omu.edu.tr/

http://www.fatihsultan.edu.tr/

http://www.medeniyet.edu.tr/

http://www.ksu.edu.tr/

http://www.agri.edu.tr/

http://www.hsu.edu/

http://www.tamu.edu/

http://www.wright.edu/

http://www.uni-lj.si/en/about_university_of_ljubljana.aspx

http://www.uninp.edu.rs/

http://www.ukm.my/v3/

http://www.utm.my/

http://www.um.edu.my/

http://www.johncabot.edu/

http://du.lv/en

http://www.ciu.edu.tr/english/


98

Memorandum of Understanding

41. Deakin University http://www.deakin.edu.au/

Pakistan

42. Quaid-i-Azam University http://www.qau.edu.pk/

43. Riphah University http://www.riphah.edu.pk/

44. NUST University www.nust.edu.pk

Poland

45. Andrzej Frycz Modrzewski

Krakow University

http://www.ka.edu.pl/en/

Libya

46. Omar al-Mukhtar University http://www.omu.edu.ly/

Macedonia

47. International Balkan University http://www.ibu.edu.mk/

Table A-25: FENS signed cooperation agreements

Institution Department Country

1 Clinical Center Univ.of Sarajevo Molecular Diagnostics BiH, Sarajevo

Faculty of Veterinary Medicine Immunology and Microbiology BiH, Sarajevo

2 Clinical Center University of Tuzla Cytogenetics BiH, Tuzla

Faculty of Pharmacy Medical BIochemistry BiH, Sarajevo

3 Faculty of Medicine Histology and Embriology BiH, Mostar

ICGEB Molecular Immunology Italy, Trieste

4 ICGEB Molecular Hematology Italy, Rome

6 Faculty of Science Molecular Biology Croatia, Zagreb

7 Faculty of Science Molecular Biology and Genetics Turkey, Izmir

8 University Clinic Hamburg-Eppendorf Gynaecology and Oncology Hamburg, Germany

9 INGEB Laboratory for Human Genetics BiH, Sarajevo

10 Grad. Sch. of Natural and App. Science Mathematics Turkey, Kayseri

11 Faculty of Engineering Mecanical Engineering Leeds, UK

12 Grad. Sch. of Natural and App. Science Mathematics Turkey, Kayseri

13 Faculty of Science Matematik Turkey, Nevsehir

14 Faculty of Science Mathematics Turkey, Aksaray

15 Faculty of Science Computer Science Libya, Tripoli

http://www.deakin.edu.au/

http://www.qau.edu.pk/

http://www.riphah.edu.pk/

http://www.nust.edu.pk/

http://www.ka.edu.pl/en/

http://www.omu.edu.ly/

http://www.ibu.edu.mk/


99

Annex 13: Example for student survey

Table A-26: Student survey results

Protocol No.: IUS 02-1807/13

Rezultati studentske ankete za proljetni semestar 2013 it must be checked and updated

Survey was administered online and was active between May 24 and June 2 2013.

Total number of students who participated: 453

Invitations were sent to 1038 students, so it turns out that IUS student voluntary participation rate is 43 %.

Surveyed items were: For COURSES:

Course

Assessment procedures and examinations are fair and transparent

Exam questions were related to study materials, lectures and class discussions.

Overall, I am satisfied with the quality of the course.

Teaching material indicated in the course outline was available.

The criteria used in marking had been made clear in advance.

Lectures and class discussions were related to assigned course materials

For TEACHERS

Lecturer

I have been able to contact the lecturer during specified consultation hours.

The lecturer came to lectures regularly and on time.

The lecturer creates a good study atmosphere in the class.

The lecturer did not discriminate students on gender, ethnic, racial, religious or any other ground.

The lecturer encouraged us to actively participate in the learning process.

The lecturer enriches assigned material with useful comments, explanations and examples.

The lecturer followed course syllabus as given in the course outline.

The lecturer treated me and my opinions with respect.

The lecturer uses appropriate vocabulary.

General

I am absolutely satisfied with IUS Library

I find the study program attractive and fulfilling.

Non-Academic staff members always provided required assistance.

Physical/working conditions and resources available were excellent.

Student Affairs Office staff members were always helpful.

The following overall results were given by IUS Students:


100

Row Labels Average of: Average of Assistant Score

Spring 2012 Fall 2012 Spring 2013

Spring 2012

Fall 2012 Spring 2013

Course 4,20 4,14 4,24

Assessment procedures and examinations are fair and transparent 4,24 4,19 4,31

Exam questions were related to study materials, lectures and class discussions. 4,40 4,33 4,43

Overall, I am satisfied with the quality of the course. 3,97 3,90 4,23

Teaching material indicated in the course outline was available. 4,28 4,22 4,00

The criteria used in marking had been made clear in advance. 4,10 4,06 4,30

Lectures and class discussions were related to assigned course materials 4,17 4,11 4,19

General 3,63 3,39 3,35

I find the study program attractive and fulfilling. 3,63 3,39 3,51

I am absolutely satisfied with IUS Library

2,72

Non-Academic staff members always provided required assistance.

3,62

Physical/working conditions and resources available were excellent.

3,15

Student Affairs Office staff members were always helpful.

3,77

Lecturer 4,32 4,30 4,38 4,15 3,98 4,12

I have been able to contact the lecturer during specified consultation hours. 4,32 4,35 4,44 4,22 4,10 4,15

The lecturer came to lectures regularly and on time. 4,48 4,51 4,56 4,50 4,38 4,34

The lecturer creates a good study atmosphere in the class. 3,97 3,90 4,04 3,88 3,71 3,86

The lecturer did not discriminate students on gender, ethnic, racial, religious or any other ground.

4,70 4,62 4,66 4,53 4,39 4,53

The lecturer encouraged us to actively participate in the learning process. 4,06 4,05 4,11 3,84 3,59 3,71

The lecturer enriches assigned material with useful comments, explanations and examples.

4,11 4,09 4,20 3,77 3,58 3,78

The lecturer followed course syllabus as given in the course outline. 4,45 4,46 4,50 4,23 4,06 4,21

The lecturer treated me and my opinions with respect. 4,39 4,39 4,44 4,26 4,12 4,24

The lecturer uses appropriate vocabulary. 4,44 4,38 4,48 4,30 4,13 4,29

Grand Total 4,26 4,22 4,25 4,15 3,98 4,12


101

Annex 15: Stakeholders’ Engagement

Minutes of the Meetings until the Preparation of the SER


102


103


104


105

http://news.ius.edu.ba/news/meeting-fba-representatives-and-stakeholders

http://news.ius.edu.ba/news/meeting-fba-representatives-and-stakeholders

Documents

Study Program Self-Evaluation Report ECONOMICS · International University of Sarajevo Study program self-evaluation report 2017/2018 8 Educational Objectives and Learning Outcomes